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Russian Cancels Soymeal Duties
KIEV - Feb 4/03 - APK -- Russia's Ministry for Economic Development directed to government Monday a draft decree to introduce zero import duty for soya meal -- the main protein product used in production of poultry meat, press-service for the Ministry has informed.
The press-service said corresponding decision had been made at a meeting of government's panel for protective measures in foreign trade in December last year.
Current amount of the duty is 5% of customs value.
Ministry for Economic Development has estimated that cancellation of the duty will allow reducing cost-price of chicken meat by 7 to 8%, which will thus ensure higher market share for the domestically produced chicken meat.
Import of soymeal to Russia in 2002 was 286,000 metric tons (MT) against 244,200 MT in 2001. Gross crop of soybean in Russia in 2002 was 370,000 MT.
Copyright APK-Inform -- http://www.agrimarket.info
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