IGC cuts India 2018-19 wheat import view to 2 MMT.

The International Grains Council has lowered its estimate for India’s wheat imports in 2018-19 to 2.0 mln tn from 4.5 mln tn a month ago. India increased import duty on wheat to 30% from 20% to restrict supplies and liquidate huge stocks with the government. Lower imports from India are also likely to hit overall wheat trade and the grains council has lowered its estimate for global imports in 2018-19 to 176.8 mln tn, from 179.2 mln tn seen a month ago.