Mumbai:
The government has announced the expiry of duty-free
import of wheat on February 28. It may allow private players,
who have bought close to one-million tonnes, to import
duty-free wheat again 'as and when there is a need', food
secretary T Nanda Kumar said.
"
No extension has been issued for private duty-free wheat
imports as of now," Nanda Kumar said on the sidelines
of an industry meeting.
The
government allowed costly wheat imports of 5.5-million
tonnes to shore up its buffer stocks as production and
procurement fell last year.
Kumar
said though official procurement of wheat through the
Food Corporation of India is yet to begin, the government
is confident of achieving the procurement target this
year.
The
estimated procurement of wheat in 2007-08 rabi marketing
season is 151.5 lakh tonnes, according to minister of
state for food Akhilesh Prasad Singh.
The
minister said procurement centres were yet to start working
as the marketing season begins from March 14. He said
the minimum support price of the wheat has been raised
to Rs750 per quintal this year from Rs650 per quintal.
The
country, which consumes about 71 million tonnes of wheat
annually, is likely to produce 72.5 million tonnes in
2007 against an output of 69.4 million tonnes in 2006.
India, the world's second-largest wheat producer, allowed
private trade to import at 5 per cent duty in June 2006
and later abolished the levy until Feb 28 to make up for
an acute shortfall in availability.
|