India says not planning to import wheat – Times of India


MUMBAI: India has enough shares of wheat and there’s no plan to import the grain, the federal government clarified on Sunday after some media retailers reported New Delhi was planning to import wheat.
Native wheat costs jumped to a document Rs 24,453 ($305.97) per tonne on Friday.
That was up practically 16% from latest lows that adopted the federal government’s shock ban on exports on Might 14, ending hopes India might fill the market hole left by lacking Ukraine grain.
The rally in native costs has prompted merchants to take a position that New Delhi would enable imports to reinforce provides, which dwindled after the manufacturing was hit by a heatwave.
However Division of Meals & Public Distribution in a Tweet mentioned, “There isn’t a such plan to import wheat into India. Nation has enough shares to fulfill our home necessities and Meals Company of India has sufficient inventory for public distribution.”
India’s wheat procurement in 2022 fell 57% from a yr in the past to 18.8 million tonnes.
Wheat imports into India presently entice a 40% import obligation. The abroad shopping for just isn’t attainable till authorities scraps the import tax, merchants mentioned.


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