Will Centre succumb to pressure of rising prices and allow wheat import?
Amidst rising wheat prices, India considers relaxing import norms after six years, with estimates ranging from 2 to 4 million tonnes. The current 44% import duty may see adjustments. This move follows discussions triggered by various agricultural factors, including record wheat output in 2023-24 and slow agricultural growth. The potential shift aims to stabilize prices in the world’s second-largest wheat-producing nation.
During the last few weeks, the Indian wheat market has been all agog with talk of an imminent relaxation in import norms to allow the country to import the grain — after a gap of six years — to cool the prices down.
The required numbers in the buzz vary from 2 million tonnes to 4 million tonnes, depending on how one perceives the market to behave in the coming months.
At present, India, the world’s second largest wheat producer, imposes an effective import duty of around 44 per cent on the grain.
The import buzz has been triggered byBS Manthan: Explore contract farming, MSP law no solution, says agri expert MSP of wheat and paddy: How the two states Punjab and Haryana fared Farmers wait to reap Madhya Pradesh govt’s wheat MSP poll promise Will legalising MSP reduce import Bill of edible oils and pulses? How the government lost the script on MSP to farmers Govt revises upwards wheat output to record 112.92 mn tonne for 2023-24 Garuda Aerospace aims to sell 50,000 agri, consumer drones in coming years Global agricultural trade focuses on India policies post new govt formation Agri GVA growth slowest in 5 years after poor rains last monsoon MSPs ensured minimum return of 50% over production cost in 2023-24: RBI
Recommended for you
