March 3, 2021

 

Russia may lower tax on poultry imports from Brazil

 


The RIA news agency said Russia may lower tax on poultry imports from Brazil if surging local prices do not stabilise, citing an industry source, Reuters reported.

 

The RIA said the tax cut was proposed during a meeting between agriculture ministry officials and major poultry producers in Russia, where they focused on increasing poultry and egg prices.

 

Local demand for chicken and eggs have soared in the past year, but Russia's domestic poultry production is on the decline after some producers were affected by bird flu outbreaks.

 

The 2021 poultry import quota for Russia has been set at 364,000 tonnes with zero tax for all countries. Outside this quota, there is a 65% tax imposed.

 

According to the RIA reported, the meeting discussed lowering the import duty for poultry meat from Brazil, a major supplier to Russia, as a possible stabilization measure if other solutions are insufficient.

 

Other proposed measures include a higher limit for subsidised loans and an extension to existing loans given to poultry producers in Russia.

 

To slow down food inflation due to COVID-19 pandemic and declining household incomes, Russia has implemented grain export curbs and other measures.

 

- Reuters

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