Finance ministry proposes cutting import taxes on chicken, pork
The Ministry of Finance has recently sent Dispatch No.14813/BTC-CST to competent ministries and sectors, suggesting cutting import on chicken and pork products.
Accordingly, import tariff on frozen chicken parts in the sub-category 2207.14 is suggested to be cut from 20 percent to 18 percent, which is equivalent to the duty reduction in the roadmap in the first year implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Chicken imports increased during April and June as compared to the same time in 2018 as consumers sought alternatives to pork following the outbreak of the African swine fever (ASF), according to the Ministry of Agriculture and Rural Development.
Regarding fresh or frozen pork (except for whole or half carcasses, ham, butt and picnic shoulder), the ministry recommended a tariff reduction from 25 percent to 22 percent./.VNA
Can the prices of pork destabilize the monetary policy formulated by the central bank in Vietnam?
Vietnamese chicken farmers are facing big losses as prices have sharply fallen due to rising supply.