RFMFI Pushes for Wheat Import Duty Reduction Amid Market Volatility

The Rollers Flour Millers' Federation of India (RFMFI) urged the government to reduce wheat import duty to 0-10% post-procurement season to stabilize domestic availability and price volatility. Despite bumper crops, uncertainties due to climate change prompt the call for a duty cut to ensure market stability.

The Rollers Flour Millers' Federation of India (RFMFI) has called on the government to slash wheat import duties to between 0 and 10 percent in a bid to improve domestic availability and curb price volatility.

RFMFI President Navneet Chitlangia highlighted that the country's wheat production is set for a bumper year, expecting to hit 110 million tonnes in 2024-25. Nevertheless, he emphasized the need for reduced import tariffs after the June procurement season to mitigate market uncertainties and speculative price changes fueled by climate concerns.

Chitlangia underscored that adjusting the import duty could stabilize wheat availability and requested allowing imports via southern ports. The federation has formally presented their proposal to the food ministry amid ongoing discussions at 'The Future of Milling -- Vision 2030 and Beyond' conclave, with a focus on industry-wide challenges such as food security and climate resilience.

(With inputs from agencies.)