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Thailand: soybean tariff to be cut by 2%
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| Thailand: soybean tariff to be cut by 2% |
| 12.05.08 (7:14 pm) [edit] |
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Thailand’s import duties on soybean meal, a raw material for animal feed, are to be cut by half to 2% starting on January 1, 2008, according to Commerce Minister Chaiya Sasomsab. The annual soybean meal demand in Thailand is estimated at 3.66 million metric tons, with imports providing 2.1 million metric tons, and soybean meal providing about 20% of animal feed. The reduction, if approved by the cabinet, would save feed producers around 647 million baht and cut feedmeal prices by a range of 0.41 to 2.30 baht for a 30 kg sack, reducing the cost of raising livestock and benefiting the industry, Chaiya said.
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