India doubles import duty on wheat to boost local production


India has doubled the import duty on wheat from 10% to 20% to boost local production and send a positive signal to domestic farmers. India, the world’s second-biggest producer of wheat, began importing the grain after two successive droughts battered harvest.

In the fiscal year ending March 2017, India imported 5.75 mt of wheat from Ukraine, Russia, Australia and Bulgaria. But, that is likely to change this year due to record output. The latest step is also aimed at preventing domestic wheat-growers from switching to other crops.


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