Ministry proposes tax cut on animal feed imports

The Ministry of Agriculture and Rural Development has recommended the government lower import taxes on animal feed to help farmers cut costs.

The ministry has asked the Ministry of Finance to halve the tax on finished feed products to 4 percent and the tax on dry beans to 5 percent. It also proposed zero rate for various feed ingredients.

Vietnam imports 49-52 percent of the ingredients needed to make animal feed. Of the 22 kinds of ingredients in total, soybean meal is wholly imported, Le Ba Lich, chairman of the Vietnam Animal Feed Association, said.

Animal feed prices could increase next month as prices of imported ingredients have been going up for more than a month, he warned.

vietnamplus, thanhnien

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