Nearly 90,000 MT wheat to hit ports this month after import duty hike.

Wheat importers may have to pay a higher duty for nearly 90,000 tn of wheat as three cargoes from the Black Sea region are yet to hit Indian ports. The government, on Nov 8, increased the import duty on wheat to 20% from 10% with an aim to support domestic prices. Although no new deals for wheat import were signed in November, these shipments are for the contracts made till September. It takes a wheat shipment from Black Sea Region–comprising Russia, Ukraine and Kazakhstan–nearly 40-45 days to reach India.