NEW DELHI, INDIA — India has increased its customs duty on wheat to 40% in attempts to support local farmers, Bloomberg reported.
The previous duty was 30%. For the third year in a row, India is expected to see a record rise in wheat production.
India’s Ministry of Agriculture and Farmer Welfare said in March that wheat production was expected to reach 99.1 million tonnes.
Since the import duty was increased to 30% in May 2018, wheat imports have come to a halt, according to a March 12 Global Agricultural Information Network report from the U.S. Department of Agriculture.
