March 31, 2009
Vietnam may reduce tax on animal feed imports
Vietnam's Ministry of Agriculture and Rural Development has proposed to lower import taxes on animal feed to help farmers cut costs.
The ministry has asked the Ministry of Finance to reduce the tax on finished feed products to 4 percents and lower the tax on dry beans to 5 percent.
The ministry also proposed a zero rate for various other feed ingredients.
Vietnam imports about half of the ingredients required to produce animal feed, and is dependent on soymeal imports, said Le Ba Lich, chairman of the Vietnam Animal Feed Association.
Animal feed prices could increase next month as prices of imported ingredients have been rising for more than a month, he warned.