GROMA welcomes waiver of duty on wheat import

Mumbai, Sep 5 (UNI) The Grain, Rice and Oilseeds Merchants' Association (GROMA) has welcomed the Centre's decision to import wheat duty-free by the private traders.

GROMA President Sharad Maru told UNI that the current prices of wheat are between Rs 1,100 and Rs 1,800 and are likely to fall by Rs 100 to Rs 200 per quintal and to be quoted below Rs 1,000 per quintal for lower quality. He expected prices would reach the mark between Rs 900 and Rs 1,500 within a few days.

By allowing the wheat import, the government was looking forward to attain a comfortable position. About seven lakh tonnes of wheat is expected to arrive every month from October till January next year.

According to the government estimates, the imports would double the buffer stock of wheat with the Centre to four million tonnes as compared to two million tonnes at the beginning of April.

The arrivals would ensure that the Centre would be in a position to intervene in favour of the vulnerable sections of society through the public distribution system and other welfare schemes, he pointed out.

Consumer Affairs secretary L Mansingh had told the media recently that the import arrivals would go up to nine lakh tonnes per month by the end of this year. Stocks with the Centre as on August one, stood at 73 lakh tonnes of wheat and 100 lakh tonnes of rice. In comparision, the buffer norm for the quarter is 52 lakh tonnes of wheat and 100 lakh tonnes of rice.

Ministry of Food Joint Secretary Sanjay Kaul said private parties have contracted five lakh tonnes of wheat at the rate of 220 dollars per tonne from Ukrain and Australia.

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