02.
08.18
08:24

Grain prices in India are rising - are import tariffs lowered?

India is likely to lower its import tariffs on wheat again after volatile monsoon rains raise doubts about Indian wheat production.
The grain prices in India are rising.
Parts of India to the northeast and south have remained dry during the monsoon season.
Meteorologists said that the subcontinent received below-average precipitation during the monsoon season in 2018. India is Asia's third largest economy, and the fear of crop damage could worsen economic development, especially since only half of the arable land can be irrigated.
The wheat prices are rising. The state minimum price is Rs. 1,750 / 100 kg, but the market price is already Rs. 2,000. The government will soon be forced to fight inflation, especially as parliamentary elections will take place next year.
India currently levies an import tariff of 30% on wheat.

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