India Wheat Imports may reach to 5 Million tons in 2016-17
June 10, 2016
India wheat import could touch a 10 year high in 2016-17 as the output is expected to fall due to the back to back droughts in the country. According to ITC, leading consumer products company, India may import 5 million tons of wheat in 2016-17 as the output of wheat in the country is likely to fall by around 2.3 percent to 85 million tons in this fiscal year. This would be highest since 2006-07, when the country imported 6.7 million tons of wheat and according to the data of USDA, the wheat imports during the year 2015-16 was 500,000 tons. India may have to cut on the import taxes seeing this surge in the imports of commodity.