As prices rise, wheat duty cut likely to come under the review again

Wheat prices have once again risen to Rs 2,500 per quintal in the past few weeks, notwithstanding the imposition of stock limits. As a result, traders and market players believe that the long-pending topic of reducing the import duty from 40 per cent to nil is back on the table.

Some traders are also believe that government-to-government deals to import wheat could be under consideration.

However, the quantity might not be substantial, and past experiences have shown that government deals come with various challenges and difficulties, which will all be taken into consideration before any final decisions are made.