Azerbaijan cancels import duty on soybeans to stimulate poultry farming

Published 2023년 3월 14일

Tridge summary

Azerbaijan has eliminated import duties on soybeans, which is anticipated to lower feed prices and boost the poultry sector. The country, located in the Caucasus and Central Asia, is a significant importer of soybeans, primarily from Brazil, the USA, Argentina, Russia, and Paraguay. The decision to remove import duties is expected to reduce feed prices by 10%, according to Firdovsi Fikretzade, director of the Center for Agrarian Research. This move is part of Azerbaijan's extended exemption from import duties on feed, feed additives, fertilizers, and other goods until the end of 2023. The poultry industry's target was achieved in 2022, leading to market price stabilization and reduced production costs, with no increase in chicken and egg prices across the country. In the first nine months of 2022, Azerbaijan's poultry meat production rose by 12% to 59.2 thousand tons, and egg production increased by 23.5% to 599 million eggs.

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Original content

The abolition of the import duty on soybeans in Azerbaijan is intended to reduce feed prices and stimulate poultry farming, Poultryworld reports. Azerbaijani poultry industry consumes from 1,000 to 1,500 tons of soybeans per year, head of the National Association of Producers and Exporters of Poultry and Eggs Myurvyat Hasanly said. He added that Azerbaijan is one of the largest soybean importers in the Caucasus and Central Asia. Most of the soybeans are bought in Brazil, USA, Argentina, Russia and Paraguay. Local farmers intend to expand soybean production in the future, Hasanli said. Azerbaijan has extended the exemption from import duties on feed, feed additives, fertilizers and some other goods until the end of 2023. Firdovsi Fikretzade, director of the Center for Agrarian Research under the Ministry of Agriculture of Azerbaijan, said that the decision taken in mid-2022 should lead to a 10% reduction in feed prices. In 2022, the poultry incentive package hit its target, ...

Source: Oilworld