NCDEX wheat rises on hope of import duty hike.

The most-active February wheat contract on the NCDEX continued to rise for the third consecutive day on hope of a hike in import duty. Farm ministry has asked finance ministry to raise the import duty on wheat to 40-50% from the existing 20% to support prices in the domestic market. After a bumper crop last year, wheat supplies in the country are already high and imports can hit prices and hurt farmers.