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About Wheat Import Duty
The festive season prices do not continue in the government may cut import duty on wheat release. According to official sources, 25 per cent duty on wheat is 10 percent. However, flour mills had already demanded that the import duty reduction.
2 months, prices have increased by Rs 40 in the last two months, wheat prices in the domestic market has increased by Rs 40 per quintal. In Delhi wheat prices remain around Wartman 1820 per quintal.
According to officials, the private mills have already reduced stock in open market and therefore the cell is decreasing. Wheat in the coming time and it is likely to be a rise in prices of products. This year to sell in the open market, the government is only 35 million tonnes.
While, so far, 19 lakh tonnes of wheat has been sold. Therefore, the government is treating such a way that the wheat would be imported from outside the domestic market price of wheat will be in control.
Global output is expected to grow even though wheat production in India, but declined, global production is expected to reach record levels.
According to the International Grains Council in 2016-17, he is expected to generate 7430 million tonnes. 70 million tonnes more than last year. Agstt 10 per cent duty on imported wheat in 2015, the government had imposed.
The next month, it was 25 per cent. After 6 months of 2016. The range has been extended to July. However, in July, the government decided to continue it.
While Miller was seeking to reduce it. The flour mills, nearly 7 million tonnes of wheat imports are signed. It has also come to 4 million tonnes of wheat in the country.