Vietnam to elevate animal feed import tax

From early 2010, Vietnam will raise import tax on animal feed materials, excluding those from ASEAN countries.

Under Circular No 216 issued by the Ministry of Finance, tax on imports of fish powder, meat powder and corn will be 5%, up from 0% while tax on imports of fish oil will be raised to 7% from 5%, and wheat flour import tax to 15% from 10%.

The Vietnam Animal Feed Association forecast that the tax rise of imported animal feed materials will push Vietnam's animal feed prices up.

Meanwhile, Vietnamese animal raisers, who are boosting breeding to meet growing demand in the New Year and Lunar New Year festival, have been hurt by low meat prices.