July 26, 2012

Russia to lower pig import duty to 5% from 40%

Due to Russia's entry to the World Trade Organisation (WTO), the country will cut the swine import duty to 5% from the current 40%, as approved by the Eurasian Economic Commission, and seen by PRIME late on Tuesday (July 24).

The swine import duty should amount to no less than EUR0.50 (US$0.61) per kilogramme. The duty on pork imports will be reduced to EUR0.25 (US$0.3) per kilogramme from 15% in accordance with a set quota. The import duty beyond the quota will be at 65% from 75% currently.

The duty on poultry imports will remain at 25%, but no less than EUR0.20 (US$0.24) per kilogramme in accordance with a set quota, and 80%, but no less than EUR0.7 (US$0.85) per kilogramme beyond the quota.

The duty on beef imports will remain at 15%, but no less than EUR0.20 (US$0.24) per kilogramme in accordance with a set quota, and 50%, but no less than EUR1 (US$1.22) per kilogramme beyond the quota.

Russia will become a full member of the WTO on August 23.