◂ Event Timeline

Nov 8, 2017POLICYIndia

India imposing 50 percent duty on peas and 20 percent duty on wheat

India raised its basic customs duty on peas from nil to 50 percent and on wheat from 10 to 20 percent, through a Central Board of Excise and Customs order issued Wednesday. The move is aimed at supporting domestic prices after a bumper crop, and Canada has voiced concern over the pea tariff.

WHY IT MATTERS

Higher Indian import duties reduce demand for wheat and peas from exporters such as Canada, Russia and Ukraine, which pressures world wheat prices.

AFFECTSWHEAT▼

SOURCE
realagriculture.comKelvin HeppnerNov 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 doubles wheat import tax, imposes 50 per cent tax on peas - Grainews+1.2%
May 27, 2017Import duty on Wheat and Arhar Dal-0.5%
Mar 22, 2017Govt considering imposing import duty on wheat: Agri Secy | Govt considering imposing import duty on wheat: Agri Secy+2.2%
Mar 28, 2017Import duty on wheat, dal back | Import duty on wheat, dal back+0.5%
Dec 9, 2022India's ban on rice and wheat exports has been a failure - Nikkei Asia+10.3%

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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