The reason for this decision, according to the Minister, may be the desire of the authorities of India to protect the interests of local producers of grain due to the expected record crop of wheat in the country (96,64 million tonnes).

Recall that in December 2016 10% import duty on wheat in India has been reset due to low supply of products in the domestic market due to crop failure, which caused the growth of prices for grain.

However, this season the authorities expect to significantly increase the volume of purchases of grain in state reserves to 33 million tons against of 22.96 million tonnes last year, which will reduce the need for procurement of wheat on foreign markets.

Photo: prod.pdo.ru