The wheat import lobby
Efforts to spark wheat inflation face scrutiny as India anticipates a record production of 112.95 million tonnes, 2.37 mt more than last year. Despite calls for zero duty imports to curb food inflation, the Food Ministry clarified on June 13 that import duties will remain unchanged.
A concerted effort is on to trigger wheat inflation. The narrative is that adequate wheat is not available, so import is necessary at zero duty. Last week, the Ministry of Agriculture stated that the production of wheat is estimated at a record 112.95 million tonnes (mt) — 2.37 mt higher than last year. On June 13, the Food Ministry issued a clarification that the government will not lower the import duty. The demand for allowing wheat import at zero duty to prevent food inflation should be examined in-depth .
Source Link: https://www.thehindubusinessline.com/opinion/the-wheat-import-lobby/article68308776.ece
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