labels: economy - general
Govt allows duty free wheat importnews
04 September 2006

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

Agriculture and Food Minister Sharad Pawar said, "Private traders from today can import wheat at zero duty instead of the current 5%,".

The private wheat import duty was brought down to 5 per cent from 50 per cent 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.

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Govt allows duty free wheat import