Vietnam: Stockfeed support measures to come

게시됨 2021년 11월 23일

Tridge 요약

Vietnam has lowered the tariff rates for corn and wheat imports from countries without free trade agreements, reducing the corn tariff from 5% to 2%, and wheat tariff from 3% to 0%, effective December 30. This move aims to support the domestic stockfeed industry and is expected to put the United States on equal footing with its competitors. Despite these changes, high prices and high sea freight rates make US origin wheat uncompetitive. Vietnam's rapid economic growth and increased consumption of animal-based proteins have led to a surge in corn, wheat, and barley imports. The country imported over 500,000 tonnes of US wheat in the 2020-21 marketing year, and is expected to rank fifth in global corn imports in 2021-22. Australia is expected to continue capturing a significant share of Vietnam's wheat and barley demand due to its price competitiveness.

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원본 콘텐츠

South East Asian powerhouse nation, Vietnam, announced last week it had revised its most-favoured-nation (MFN) tariff rates for corn and wheat imported from origins that are not already subject to free trade agreements (FTA). The tax on corn will fall from 5 per cent to 2pc, and the wheat tax will drop from 3pc to zero. The decree, which will reportedly take effect on December 30, was primarily made to support its domestic stockfeed industry. This sector was hit particularly hard in mid-2021, when Vietnam's most serious COVID-19 outbreak escalated government control measures. According to World Trade Organisation (WTO) trade rules, countries cannot typically discriminate between their trading partners. Grant a trading partner a special favour, such as a lower customs duty for one of their products, and the same must be awarded to all other WTO members. This principle is known as the MFN treatment. But some exceptions are permitted. For example, countries can set up a FTO that ...

출처: Farmweekly