The Hindu : Business : Private wheat import at zero duty

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Tuesday, Sep 05, 2006

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Private wheat import at zero duty

Special Correspondent

The concession will be valid for four to five months

NEW DELHI: The Central Government has allowed private trade to import wheat at zero duty to augment supplies in the domestic open market during the forthcoming festival season. So far the duty on wheat import on private account was five per cent, brought down from 50 per cent in June this year. The decision was taken at the meeting of the Cabinet Committee on Prices (CCP) chaired by Prime Minister Manmohan Singh on Thursday, but its announcement was kept in abeyance.

Speaking to media persons on the sidelines of the Food and Agriculture Organisation's Sub-Committee meeting on aquaculture here on Monday, Union Agriculture Minister Sharad Pawar said private traders, roller flour mills, bakers and confectioners would now be able to import directly at zero per cent duty, just as the State Trading Corporation (STC) was permitted to do for the public distribution system. "The concession for private trade shall be valid for four to five months,'' the Minister said.

Earlier, Mr Pawar called for formulation of "suitable approaches'' to conduct risk analysis in aquaculture which should be applicable to the situation in a particular country. He sought a simplified procedure of risk analysis as it was a relatively new field for most countries.

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