Australia expects India to lower its wheat import duty later in 2025 to control high domestic prices. Australian officials see a potential market opening as India’s wheat production is forecasted at 115-116.4 million tonnes. However, below-normal rainfall may impact yields, with some traders predicting output below 110 million tonnes. Current wheat prices remain above the Minimum Support Price (MSP) despite government interventions like open market sales. FCI wheat stocks are 22% higher than last year, but rapid sales could reduce them significantly before the new procurement season. Australian trade representatives are optimistic about gaining market access, while discussions on trade agreements and non-tariff barriers continue. India’s wheat prices remain high despite the government’s efforts to stabilize the market. The current weighted average price at APMC yards is ₹2,879 per quintal, significantly above the MSP of ₹2,425 per quintal.
