{"id":254933,"date":"2023-08-05T20:39:12","date_gmt":"2023-08-05T15:09:12","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=254933"},"modified":"2023-08-05T20:39:12","modified_gmt":"2023-08-05T15:09:12","slug":"remove-wheat-import-duty-till-feb-for-food-security-fci","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/remove-wheat-import-duty-till-feb-for-food-security-fci\/","title":{"rendered":"Remove wheat import duty till Feb for food security: FCI"},"content":{"rendered":"\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">The post is based on the article <\/span><b>\u201cRemove wheat import duty till Feb for food security: FCI\u201d <\/b><span style=\"font-weight: 400;\">\u00a0published in <\/span><b>Livemint on 5th August 2023.\u00a0<\/b><\/p>\n<h2><b>What is the News?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Food Corporation of India(FCI) has recommended the government to remove import duty on wheat till February 2024.<\/span><\/p>\n<h2><b>Why has the Food Corporation of India(FCI) asked the government to remove import duty on wheat?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Food prices have been on the rise globally against the backdrop of the Russia-Ukraine war.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But the prices began showing signs of easing, thanks to the Black Sea grain deal under which Russia agreed to allow wheat to be exported from the three ports in the conflict-hit region.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, prices have resumed the upward trend, with Russia pulling out of the deal last month, stating that the deal was only helping Western countries and not the African nations in need.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Soon after, India also restricted wheat exports to protect its own food supplies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, Inflation in wheat is currently above 12% even as the government has taken multiple steps such as banning exports to conducting open market operations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hence, that&#8217;s why FCI has suggested the government to remove import duty on wheat till February 2024.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is because Russian wheat is cheaper and can be imported. Harvest season in Russia is currently going on and this is the peak time for exporters to sign contracts.<\/span><\/p>\n<p><b>Note:<\/b><span style=\"font-weight: 400;\"> The current import duty on wheat is 40% and has been at this level since April 2019.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article \u201cRemove wheat import duty till Feb for food security: FCI\u201d \u00a0published in Livemint on 5th August 2023.\u00a0 What is the News? Food Corporation of India(FCI) has recommended the government to remove import duty on wheat till February 2024. Why has the Food Corporation of India(FCI) asked the&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/remove-wheat-import-duty-till-feb-for-food-security-fci\/\">Continue reading <span class=\"screen-reader-text\">Remove wheat import duty till Feb for food security: FCI<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[10501],"class_list":["post-254933","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/254933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=254933"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/254933\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=254933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=254933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=254933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}