Wheat Import In India To Remain High Despite Import Tax

30 Mar, 2017
Wheat Import In India To Remain High Despite Import Tax
Wheat import in India will keep a high level in 2017 – 2018 despite the introduction of an import tax. Stocks need to be completed following two years of weak yeilds.

Wheat import will reach 3 mln tons according to an ITC forecast, which will be second biggest result. Import has been 5.5 mln tons in 2016 – 2017. High-protein wheat has been imported and the main suppliers are Australia, Russia and Ukraine.

As of the end of March 2017, wheat stocks at the Indian corporation FCI will be 9.43 mln tons, which will be a 44% decline for the last 12 months.