February 12, 2008

Philippine feedmillers seek duty-free soymeal imports

Philippine feedmillers have asked the Department of Agriculture for permission to import soymeal tariff-free, an industry executive said Monday (February 12, 2008).

"We made the request last month but have not received any response yet, although the department promised to look into it," the executive said.

The prevailing tariff on imported soymeal is 3 percent.

The landing cost of soymeal has risen to PHP23/kilogram (US$0.56) from PHP14/kg (US$0.34) about a year ago.

Soymeal accounts for around 20 percent of livestock feed in the Philippines.