TT Epaper LHS
The Telegraph
TT Mobile
 
 
IN TODAY'S PAPER
WEEKLY FEATURES
CITY NEWSLINES
FEEDS
  RSS
  My Yahoo!
SEARCH
 
Archives Web
 
ARCHIVES
Since 1st March, 1999
 
THE TELEGRAPH
 
CIMA Gallary
 
Email This Page
Duty-free wheat import till April

New Delhi, March 14: The government today extended the deadline for import of duty-free wheat to April-end.

In a public notice, the directorate general of foreign trade said zero-duty wheat imports should arrive before April 30. The earlier deadline for duty-free import was February-end.

Officials said the deadline was extended partly to keep the pressure on private commodity traders to keep prices low and partly because a wheat contract entered into by state-run STC to bring in 5.5 million tonnes of grain could only come in April.

“Most of the wheat shipments have already arrived at the ports. We had asked the government to extend the time by a month as one shipment is yet to come, an STC official said.

Agriculture minister Sharad Pawar yesterday said a decision on whether to raise the procurement price of wheat would be taken by the cabinet soon.

Sources said a GoM on the issue had considered paying a bonus to wheat farmers to ensure that a larger portion of the crop could be picked up by state-run food agencies such as the FCI instead of private traders.

The private players are being blamed in part for the huge increases in wheat prices over the past one year.

Government stocks fell last year as private traders bought large amounts of wheat from farmers at higher rates than those offered by the state. Officials also said the government might reduce duty on palm oil imports to try and reduce the price of cooking oil in India.

Top
Email This Page

 More stories in Business

  • Modi firm eyes local listing
  • Markets retire hurt
  • Bankers prefer to wait and watch
  • Chidambaram seal on RBI's flexible stand
  • Reddy rates in neutral gear
  • Maruti net profit races ahead
  • Bokaro Steel faces iron ore crisis
  • Telecom tariff plan cap to be lowered