Private players import 4.72 LT of wheat in April-October period

In the first seven months of this fiscal, the private traders and flour millers have imported around 4.72 lakh tonnes (LT) of wheat, as per information provided by Food Minister Ram Vilas Paswan. The import of wheat on private account might have taken place due to its low international prices. There is however a sufficient buffer stock of wheat. The government had initially imposed an import duty of 10% and then raised it to 25% with effect from October 19 in order to discourage wheat import. 

The production of wheat in India, the world’s second-biggest grower, is estimated to have declined to 88.94 million tonnes (MT) in the 2014-15 crop year as against the record production of 95.85 MT in 2013-14. The private traders have imported high-protein wheat varieties as the domestic crop was damaged due to rains and hailstorms earlier this year.

The procurement of wheat stood at 280.88 LT in 2015-16 marketing season against 280.23 LT in the previous year.