Vietnam to Raise the Import Duty on Animal Feeding Materials

Recently, the Ministry of Finance in Vietnam releases announcement to raise the import duty on animal feeding materials from countries which signed Preferential Tariff Agreement with Vietnam, except ASEAN.

The detailed issues are as follows: to raise the import duty of corn, fish powder and bone powder to 5 percent, fish fat to 7 percent, and flour to 15 percent. According to Vietnam Animal Feeding Association, Vietnam shall import certain animal feeding materials from countries which are influenced by the rise of import duty as the rise will cause the increasing cost on such products.