Govt allows duty free wheat import

In an attempt to increase domestic supply and to bring down prices, the government today allowed duty free wheat import by private traders.


"Private traders from today can import wheat at zero duty instead of the current 5%," Agriculture and Food Minister Sharad Pawar said. The private wheat import duty was brought down to 5% from 50% in June this year to curb rising prices. However, the State Trading Corporation (STC) has been importing duty free wheat on behalf of the government to augment buffer stock since February this year when a six-year ban on the import was lifted.

The concession for the private traders will be valid for the next four to five months.