The Food Ministry has affirmed its decision to retain the current import duty on wheat, citing ongoing monitoring of market prices and sufficient domestic production.
With an estimated wheat production of 112 million metric tons for RMS 2024, the government had assured adequate stocks to meet national requirements, the Ministry informed.
Despite concerns over low wheat reserves reported on April 1 at 7.5 million metric tonnes, slightly above buffer levels but a 16-year low, the government has initiated procurement efforts targeting 372 lakh metric tonnes this year to bolster reserves.
Speculation on potential import duty changes has been addressed by officials stating no immediate plans to alter the existing 40% duty on wheat imports. This decision follows appeals from flour millers seeking relief from rising prices and ensuring supply stability.