Soybean meal import tariffs cut by half

The Commerce Ministry proposed the cut to alleviate the shortages of soybean meal among feed meal producers. It said the tariff cut would result in cheaper animal food.

Soybean oil manufacturers have threatened earlier that the cut would force them to raise their product price by Bt1.25 per 1-litre bottle. The manufacturers fear that they may find no buyers for their by-product, soybean meal, though the ministry said feed meal producers must first resort to domestic supply of soybean meal.