Govt doubles import duty on wheat to 20%

Thu 09 Nov 2017, 11:19:27
The government has doubled the import duty on wheat to 20 per cent to curb cheap shipments and give positive price signal to farmers in the ongoing Rabi season. 

It has also imposed import duty of 50 per cent on peas to check cheaper shipments from countries like Canada and to boost domestic prices.In a notification, the

Central Board of Excise and Customs (CBEC) said, it seeks to increase rate of basic customs duty on wheat from 10 to 20 per cent and on Peas from present Nil rate to 50 per cent.

In March, the government had imposed 10 per cent import duty on wheat to contain sharp fall in local prices in view of bumper crop.

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