Costa Rica May Cut Bean Duties
WASHINGTON - Oct 11/10 - SNS -- Costa Rica may temporarily reduce its 30% import duty for red beans because of supply problems in the Central American region, reports the U.S. agricultural attache for the country.
Government officials are "working on an Executive Decree to temporarily reduce the ad valorem duty on imported red beans" from 30% to 1%, the agricultural attache writes.
"By reducing the import duty, the government hopes to avoid higher bean prices in the local market resulting from of speculation of short supplies. Beans, a staple food commodity in Costa Rica, has increased in price recently throughout Central America as a result of adverse weather conditions, which caused steep production losses, primarily in Nicaragua."
Only active subscribers can read all of this article.
If you are a subscriber, please log into the website.
If you are not a subscriber, click here to subscribe to this edition of the STAT website and to learn more about becoming a subscriber.
