Vietnam seeks lower tariff on animal feed
The move aims to open the door for finished animal feeds to be imported into the domestic market, forcing local feed producers to reduce prices.
The Ministry of Agriculture and Rural Development of Vietnam has asked the Ministry of Finance to cut import taxes on finished feed for poultry and pigs to 4% from the current 8%, according to the Vietnam News.
It has also reportedly petitioned to exempt the import duty on some raw materials for animal feed processing, including buckwheat, grease and fish oil.
The high prices are reportedly causing many financial difficulties for local breeders.