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Opposition parties in India's Rajya Sabha protested the government's cut of the wheat import duty from 10 percent to zero, forcing an adjournment. The Food Minister said the move was intended to cool domestic prices and was not permanent, and could be reviewed if needed.
The political pushback leaves open the possibility of reinstating the duty, which adds uncertainty to Indian wheat import demand but does not change the current duty-free status.
business-standard.comBusiness StandardDec 9, 2016After 137 past neutral policy events, Wheat (SRW) moved a median -0.4% over 5 sessions (43% higher; middle half -1.9% to +1.2%), and +0.3% 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.
