Farm minister says wheat import duty hike proposal sent to finance ministry.

The agriculture ministry has sent a proposal to the finance ministry, seeking that the import duty on wheat be hiked from the current 10%. The proposal comes in the wake of subdued wheat prices due to high imports from the Black Sea region, despite a record harvest in 2016-17 (Jul-Jun). Despite the 10% duty levied on wheat imports, traders in coastal regions are getting imported wheat for 15,000-16,000 rupees per tn, while that from north India costs 19,000-20,000 rupees per tn due to high the costs of logistics involved.