October 15, 2009

Thailand's Commerce Ministry will propose the government to maintain import restrictions on raw materials for feed mills next year, to ensure that the businesses can adequately plan in advance for next year's production.

 

Acting permanent secretary Yanyong Phuangrach on Monday (Oct 12) said the government would finalise its import policy for feed meal soon after Commerce Minister Porntiva Nakasai approved it.

 

This move followed after private enterprises called on the government to set up a meeting of the Food Policy Committee to allocate an import quota for soymeal, corn and powdered fish in advance of the new year, in order to plan next year's production.

 

Under the import policy, the government will freely allow soymeal imports at a tariff of two percent. However, importers must also purchase an equal quantity of domestic soymeal, which will help prevent soy price from dropping amid a flood of imports.

 

Feed meal producers will be allowed unlimited imports of corn from March 1 to June 30 of next year. Imports of powdered fish will enjoy zero tariffs under the ASEAN Free Trade Agreement, against a tariff of five percent now.