Business Daily from THE HINDU group of publications
Tuesday, Sep 25, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Sep 25, 2007 ePaper |
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Agri-Biz & Commodities
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Wheat Industry & Economy - Exports & Imports ‘No move to allow duty-free import of wheat products now’ Our Bureau New Delhi, Sept. 24 The Centre has said that there is no move as of now to allow duty-free import of wheat flour and other products such as maida and atta. Addressing the 67th Annual General Body Meeting of the Roller Flour Millers’ Federation of India (RFMFI) here on Monday, the Secretary, Department of Food and Public Distribution, Mr T. Nanda Kumar, said: “As of now we have not decided on it (duty-free import of products)” and they would not be required if domestic wheat continued to rule stable. Wheat products currently attract 35 per cent basic customs duty. While wheat ordinarily attracts 50 per cent duty, the Centre has allowed imports at zero till December 2007. On the RFMFI’s demand for extension of duty-free imports beyond December, Mr Nanda Kumar said he saw no problem at the official level to push the recommendation. Zero dutyHowever, he chided the millers on their demanding wheat at zero duty, while not wanting the same to be done for products. Currently, international wheat prices are on the boil, with the landed cost of imported wheat working out to well above $400 a tonne or Rs 16 a kg. As against this, wheat dara is quoting at Rs 10.30 a kg in Delhi, while mills in the South are able to source the grain at Rs 12 at their gate. The Chairman and Managing Director of the Food Corporation of India Mr Alok Sinha, said the prevailing comfortable domestic supply and price situation meant there would be no need for the corporation to offload wheat from its stocks to millers under the Open Market Sale Scheme. More Stories on : Wheat | Exports & Imports
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