September 12, 2007

Indonesia to slash corn import duties

Indonesia will cut corn import duties by 5 percent in a bid to help domestic cattle food producers reduce costs, an official said Tuesday (September 11).

Trade Minister Mari Elka Pangestu did not specify the new figure but said the reduction should ease production costs in the cattle food industry.

The move was a response to a petition by local cattle food producers who still rely on imported materials, such as corn and meat-bone meal.