Govt hikes import duty on wheat to 25%

Government has raised import duty on wheat to 25% till March next year to restrict overseas purchases in the wake of falling global prices.

In view of the continued fall in international prices of wheat and the anticipated adverse impact of increased imports during the first half of this financial year, basic customs duty on wheat has been increased from 10% to 25% for a period up to March 31, 2016, as per the data of the finance ministry.

In August, the government had imposed a 10% import duty on wheat, for the first time since 2006.