Spot wheat prices rise on firm buying by stockists.

Prices of wheat rose in the key wholesale market of Kota today due to firm buying by stockists and on speculation of a hike in import duty. Prices of good quality crop have risen by nearly 200 rupees in the last 15 days. The government is likely to hike import duty on wheat this month as procurement is going on at a higher-than-expected pace and stock position remains comfortable. According to sources, the Food Corp of India has written to the food ministry to increase import duty on wheat as imports will be feasible at current price.