India imposed 10% valid import duty on wheat

India will impose a 10% valid import duty on wheat supplies, which will be effective until the 31.03.2016. Finance Minister Arun Jaitley also informed the Indian Parliament. After a period of 8 years, in which no import duties were applied, the imports increased strongly in the past few months. In June, private importers have signed contracts to import 500,000 tons of high protein wheat from Australia, the largest purchase for more than a decade. That had resulted in criticism of the Indian Prime Minister Narendra modes, you lassse the farmers in the lurch.
Last week, it was already reported that at a meeting with government representatives from the ministries of agriculture, Lebendsmittel, Commerce and finance measures was discussed, to reduce imports from overseas when domestic stocks are high.
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