(Bloomberg) --
India raised the customs duty on wheat to 40 percent from 30 percent, as the country is set for a record rise in output for the third year in a row.
The increase in the tax, announced by the Central Board of Indirect Taxes and Customs in a notification dated Friday, will support local farmers, by making imports of the grain costlier. Last year, the government had increased the import duty on wheat by 10 percentage points to 30 percent.
To contact the reporter on this story: Anindya Upadhyay in New Delhi at aupadhyay22@bloomberg.net
To contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, Anto Antony, Sam Nagarajan
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