Soybean meal import tariff cut unlikely

The government may not cut import tariff on soybean meal because it may adversely affect the local cooking oil producers, said Deputy Finance Minister Pradit Phataraprasit.

Pradit said on Monday that the government may not cut import

tariff to solve the problem of high price of animal

feed.

If the tax is cut, producers of cooking oil may ask to increase their product prices to compensate for the lower earning from sale of soybean meal.

The producers have complained that the lower soybean meal price would result in lower revenue against unchanged cost. As such, they may need to raise their vegetable oil prices.

- The Nation

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Soybean meal import tariff cut unlikely

The government may not cut import tariff on soybean meal because it may adversely affect the local cooking oil producers, said Deputy Finance Minister Pradit Phataraprasit.

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