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India doubled its basic customs duty on wheat imports from 10% to 20%, effective via a notification on November 8. It also imposed a 50% duty on peas to curb cheaper shipments from Canada.
The move aims to protect domestic farmers and encourage larger wheat plantings.
A higher Indian import tariff cuts demand for imported wheat, mainly from Australia and Canada, which is bearish for world wheat prices.
millermagazine.comNewclick Dijital Reklam AjansıDec 14, 2017After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
