iGrain India - New Delhi. With the actual production being less than the estimates of the Ministry of Agriculture, government procurement being far behind the set target and large producers holding back stocks, the domestic market price of wheat has remained strong at a high level and flour millers and processors as well as traders and stockists are struggling hard to buy it in adequate quantities.
In view of this, now the need to start importing wheat from abroad and especially from Russia is being emphasized.
There is currently an import duty of 40 percent on wheat, which the government is being persuaded to remove.
The President of the Roller Flour Millers Federation of India has said that starting wheat imports from abroad is the best way to ensure adequate supply and availability in the domestic market and therefore the government should take necessary steps to encourage imports.
It is expected that the import duty on wheat can be removed after June. To protect the interests of domestic farmers, if the government wants, it can re-impose customs duty on wheat imports before the sowing of Rabi crops begins in October.
There is no doubt that as soon as the removal of 40 percent customs duty is announced, traders and millers will start importing wheat. According to a leading trader, importing 30 lakh tons of wheat would be sufficient and Russia could be its major supplier country.
Wheat prices start rising from October, but this rise can be controlled through imports from abroad.