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India considers raising import tax on wheat to 25 pct-govt sources
October 15, 2015 / 4:38 AM / 2 years ago

India considers raising import tax on wheat to 25 pct-govt sources

NEW DELHI, Oct 15 (Reuters) - India is considering raising import tax on wheat to 25 percent from 10 percent currently, to curb cheaper imports from Australia and France, three government sources told Reuters on Thursday.

In August, India, the world’s second-biggest wheat producer, imposed an import duty of 10 percent on wheat until March 31 next year, reinstating tariffs after a gap of eight years following big overseas purchases in recent months.

Earlier this year Indian flour millers and global trading companies sealed deals to import 500,000 tonnes of premium Australian wheat since March, the biggest such purchases in more than a decade despite surplus stocks at home. (Reporting by Mayank Bhardwaj; Editing by Swati Bhat)

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