June 1, 2011

Russia, Kazakhstan and Belarus stop soymeal import duty temporarily 

Five percent of import duty for soymeal will be halted temporarily in June and July, according to Russia, Kazakhstan and Belarus on Tuesday (May 31).

The suspension takes place as supplies are becoming short because of the reduction in feed grain due to last summer's drought.

The suspension had already been approved at the end of February for three months by Russia's government subcommittee on customs regulation and foreign trade protection.

At its meeting in December, the Russian government subcommittee had decided against scrapping the soymeal import duty in an effort to encourage domestic production growth.