◂ Event Timeline

Nov 8, 2017POLICYIndia

India doubles wheat import tax, imposes 50 per cent tax on peas

India doubled its import duty on wheat to 20 percent and imposed a 50 percent import tax on peas, effective November 8, 2017. The government aims to support local prices after successive droughts and a good harvest, and India had imported 5.75 million tonnes of wheat in 2016/17.

WHY IT MATTERS

A 20 percent wheat duty makes imports uneconomic for many buyers, which cuts India's import demand and weighs on world wheat prices, especially Black Sea supplies.

AFFECTSWHEAT▼

SOURCE
grainews.caGFM Network NewsNov 8, 2017

Price reaction & history

WHEAT▼bearishSO FAR1d -0.0%5d +1.2%20d +1.3%

After 122 past bearish policy events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.

Nov 8, 2017India imposing 50 percent duty on peas and 20 percent duty on wheat - RealAgriculture+1.2%
Nov 10, 2017India's wheat import tariff weighs on prices for Black+0.9%
Apr 20, 2026India doubles wheat export quota to 5 million tonnes - The HinduBusinessLine-0.3%
Aug 12, 2017No plans to raise wheat import duty from current 10 per cent: Paswan | No plans to raise wheat import duty from current 10 per cent: Paswan+0.4%
Apr 29, 2019India lifts wheat tariff as election, harvest shape policy - Grain Central-4.1%

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.

WHEAT · GP ▸

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