Vietnam raises import taxes on meat
The Vietnamese Ministry of Finance (MoF) has raised import tariffs on most meat and poultry products to protect domestic production, according to a new circular issued by the ministry.
The Circular 52/2009/TT-BTC issued by the MoF stated a rise in import duty for fresh pork to 28% against 24% previously. Duty for frozen pork will be 24%. Pork, beef, lamb, mutton, goat and horse by-products will be levied a rate between 10 and 15% depending on type.
This tariff hike is the second for meat and poultry products in recent months. The MoF first increased the rate by roughly 2% in October last year.
Domestic production was previously unable to meet local demand, resulting in reductions of import tariffs on meat and poultry products prior to the deadline set by the World Trade Organisation. According to breeders, their products could not compete with imported ones that had saturated the country due to low import taxes.
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