USDA cuts India FY18 wheat import view to 3 MMT.

USDA has cut its estimate for India’s wheat imports in 2017-18 (Apr-Mar) to 3.0 MMT from 3.5 MMT. The reduction may be attributed to recently imposed duty hike for wheat imports by Indian government. Government increased import duty on wheat to 20% from 10% to boost domestic prices and encourage farmers to take up cultivation of the grain in the ongoing rabi season.