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India plans to cut its 44% effective wheat import duty from July to allow private imports for the first time in six years. Officials say any imports would likely be 3-4 million tonnes, and the government is also planning open market sales.
Renewed Indian import demand, supported by low Russian-led international prices, would tighten export availability and support world wheat prices.
livemint.comPuja DasJun 23, 2024After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
