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Mar 22, 2017POLICYIndia

Govt considering imposing import duty on wheat: Agri Secy

India's Agriculture Secretary said the government is considering an import duty on wheat as a record 96.64 million tonne crop comes to market. Prices are currently above the minimum support price.

The Food Corporation of India plans large-scale procurement to support farmers.

WHY IT MATTERS

A possible duty would reduce India's import demand for wheat, which is bearish for world wheat prices. The timing matters because the new crop is entering the market now.

AFFECTSWHEAT▼

SOURCE
deccanchronicle.comDC CorrespondentMar 22, 2017

Price reaction & history

WHEAT▼bearishSO FAR1d -0.2%5d +2.2%20d +1.9%

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%
May 27, 2017Import duty on Wheat and Arhar Dal-0.5%
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%
Jan 30, 2026Govt likely to consider allowing export of wheat | India News - The Times of India-0.3%
Nov 8, 2017India imposing 50 percent duty on peas and 20 percent duty on wheat - RealAgriculture+1.2%

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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