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Wheat prices at 8-month high on festival demand, tight supply

IndiaTimes Tuesday, 17 October 2023
Wheat prices in India have reached an eight-month high due to strong demand for festivals, limited supplies, and import duties. The government may release more stocks and eliminate import duties to control prices ahead of important elections. Rising wheat prices could contribute to food inflation. India has no immediate plans to abolish the 40% import tax on wheat.
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