India may cut wheat import duty if needed – ET Now citing food corporation head
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India may cut wheat import duty if required, broadcaster ET Now reported on Friday citing the head of the state-run Food Corporation of India (FCI).
The wheat harvest in 2023 is at least 10% lower than the government’s estimate, a leading trade body told Reuters on Wednesday, marking the second year of low production which could complicate New Delhi’s effort to keep a lid on prices of the staple.
According to the government, however, wheat output rose to a record 112.74 million metric tons in 2023, up from 107.7 million metric tons a year earlier.
The FCI is the country’s biggest buyer of grains.
Source: Reuters (Reporting by Shivam Patel; Editing by Kirsten Donovan)
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