Ecuador: Gremio warns of possible increase in the price of chicken meat and eggs

Published 2023년 11월 27일

Tridge summary

The poultry farmers' union is urging the government to review a recently applied tax on the import of breeding birds. They argue that the 12% Value Added Tax (VAT) on these imports will increase the price of chicken meat and eggs, impacting consumers. The Ministry of Agriculture and the Internal Revenue Service have implemented a 0% VAT rate on poultry genetic material, but the tax still remains due to the National Customs Service.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

With the warning of a possible increase in the price of chicken meat and eggs, the poultry farmers' union (Conave) called on November 27, 2023 to the Government of President Daniel Noboa to review a tax that was recently applied to the sector. . The unrest occurs because in September 2023 the administration of the former president, Guillermo Lasso, decided to apply the collection of 12% of the Value Added Tax (VAT) on the import of breeding birds. This is the material that is imported for the production of chicken meat and table eggs, which are the two cheapest and most affordable proteins in Ecuador. According to Conave, this tax has "an impact of USD 3 million annually that will directly affect the pocket of the Ecuadorian consumer." Although the Ministry of Agriculture and the Internal Revenue Service (SRI) have opted to apply a ...

Source: Primicias