◂ Event Timeline

May 27, 2017POLICYIndia

Import duty on Wheat and Arhar Dal

India reimposed a 10 percent basic customs duty on wheat and arhar (pigeon pea) dal with immediate effect, citing a projected record domestic crop. The duty reverses a December 2016 cut to zero that had been made to boost supply and cap retail prices.

WHY IT MATTERS

A renewed 10 percent duty reduces India's import demand for wheat, which weighs on world wheat export prices as Indian buying falls.

AFFECTSWHEAT▼

SOURCE
krishijagran.comMay 27, 2017

Price reaction & history

WHEAT▼bearishSO FAR1d -0.1%5d -0.5%20d -1.1%

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.

Mar 28, 2017Import duty on wheat, dal back | Import duty on wheat, dal back+0.5%
Mar 22, 2017Govt considering imposing import duty on wheat: Agri Secy | Govt considering imposing import duty on wheat: Agri Secy+2.2%
Apr 30, 2017No immediate plans to hike import duty on wheat to 25 pc: Govt | No immediate plans to hike import duty on wheat to 25 pc: Govt+2.3%
Nov 8, 2017India imposing 50 percent duty on peas and 20 percent duty on wheat - RealAgriculture+1.2%
Mar 23, 2017May Reimpose Import Duty On Wheat: Union Minister Ram Vilas Paswan+2.4%

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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