India eyeing resumption of wheat imports from Russia

Business & Economy May 29, 14:53

Since the new wheat harvest is coming, the government will probably make the decision by late in June to be in time for the harvest in Russia, sources said

NEW DELHI, May 29. /TASS/. India is considering an opportunity of resuming wheat imports, primarily for Russia, after a six-year break to replenish declining grain inventories and stabilize prices rising due to a crop setback, The Economic Times reports, citing sources.

New Delhi is expected to drop the 40% wheat import tax, paving the way to procurements from Russia as the leading wheat exporters. Such a decision can be made after the national parliamentary elections underway now. Voting results are to be announced on June 4.

Since the new wheat harvest is coming, the government will probably make the decision by late in June to be in time for the harvest in Russia, sources said.

Strict grain import restrictions are now effective in India. Measures were adopted in 2018 as part of the program to protect domestic producers.

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