Indian traders have signed fresh deals to import nearly 90,000 tn of wheat from Australia as prices are at parity despite the 20% duty. Australian wheat is being sold for $255 per tn, which after applying 20% import duty comes to nearly $306 per tn, landed cost. When converted to Indian rupees, the imported Australian wheat would be available for 19,850 rupees per tn, while the same quality, high-protein wheat from Madhya Pradesh is being sold for around 20,000 rupees per tn. Prices of wheat in Madhya Pradesh have gone up after the announcement of bonus on the minimum support price. The sentiment continues to be bullish amid speculations of minimum support price hike for the entire country. If the government raises the import duty to 40%, the vessels may be diverted to other countries