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Money News

India extends wheat import tax by 3 months to June 30 - govt order

An employee collects wheat from a sack inside a grocery store at a residential area in Mumbai, India, March 14, 2016. REUTERS/Shailesh Andrade

NEW DELHI (Reuters) - India has extended a 25 percent import tax on wheat by three months to June 30, a government order said on Tuesday.

The move is aimed at shielding domestic farmers from cheap imports particularly as wheat from the new-season harvest will become available by the end of this month, government sources told Reuters last week.

India, the world’s biggest wheat producer after China, raised the import tax to 25 percent from 10 percent in October.

Reporting by Mayank Bhardwaj; Editing by Malini Menon

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