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Government imposes 10% import duty on wheat, tur dal

Protecting farmers from the brunt of slipping prices, after the forecast of bumper crop production this year, the government has announced the imposition of 10% import duty on wheat and tur dal, on March 28, 2017.
The government had done away with import duty on wheat and tur dal on December 8, 2016, to counterbalance retail prices and domestic availability of the commodities.
The decision is likely to impact the revenue of the government by about Rs 840 crore at the current level of imports, curbing sharp falls in the wholesale price, besides providing support price to the farmers.
Meanwhile, new wheat crops have started arriving in Madhya Pradesh, Rajasthan and Gujarat markets.
As on March 28, 2017, at 14:26 hrs, wheat is trading at Rs 3,204.67 on MCXCOMDEX, up by 0.28%.