# India plans to reduce wheat import duty from July in a bid to cool prices | Mint

> 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.

- Date: 2024-06-23 · published 2024-06-23T12:00:00.000Z
- Category: trade · region India · magnitude high
- Page: https://feedsoft.ai/events/29728-india-plans-to-reduce-wheat-import-duty-from-july-in-a-bid-to-cool-prices-mint
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Renewed Indian import demand, supported by low Russian-led international prices, would tighten export availability and support world wheat prices.

## Read by commodity

- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-06-21 | [India approves wheat, broken rice exports requests from 4 countries](https://feedsoft.ai/events/35450-india-approves-wheat-broken-rice-exports-requests-from-4-countries.md) | +9.4% | +0.6% |
| WHEAT | 2018-07-24 | [Due to higher prices, Russia increases wheat export](https://feedsoft.ai/events/63888-due-to-higher-prices-russia-increases-wheat-export.md) | -1.0% | -0.2% |
| WHEAT | 2022-10-14 | [India allows exports of wheat flour processed from imported grain](https://feedsoft.ai/events/39079-india-allows-exports-of-wheat-flour-processed-from-imported-grain.md) | +3.7% | +4.3% |
| WHEAT | 2023-06-21 | [India to resume exporting wheat, broken rice to 4 countries  - India Today](https://feedsoft.ai/events/35457-india-to-resume-exporting-wheat-broken-rice-to-4-countries-india-today.md) | +9.4% | +0.6% |
| WHEAT | 2017-09-25 | [Russia: wheat export prices are rising due to good](https://feedsoft.ai/events/69002-russia-wheat-export-prices-are-rising-due-to-good.md) | -7.1% | +2.9% |

## Sources

- livemint.com: https://www.livemint.com/economy/india-plans-to-reduce-wheat-import-duty-from-july-in-a-bid-to-cool-prices-11719121122916.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.