Import tariffs on maize, soybean, soybean meal and powdered fish could be cut by half in Thailand to help local animal feed manufacturers, according to Internal Trade Department Director-General Yanyong Phuangrach.
manufacturers last week proposed a 10-20% hike in their product prices on
skyrocketing prices of the raw materials. The Commerce Ministry has not yet
approved the proposal. It hopes that the reduction in import tariffs would ease
the manufacturers’ problems and delay the price hike which could further push up
Yanyong also noted that his department would dispatch a
team to check animal feed inventories, to ensure that large companies would not
benefit from the tariff cuts. The inventories would tell how much animal feed
manufacturers can lower their feed prices.