Tariff reductions to support the poultry sector

Published 2020년 7월 2일

Tridge summary

The Indian government has announced a 15 percent import duty on 500,000 tons of corn to increase the supply for the poultry industry. This is a significant reduction from the usual 60 percent import tax. The import will be done under the tariff quota, allowing end-users in the poultry and starch supply sector to import. India, a major corn producer, has also allowed the import of 10,000 tons of milk and milk powder at a 15 percent import tax. The country has also set rules to ensure imports do not contain genetically modified plants. Additionally, India has licensed import quotas of 150,000 tons each for rapeseed oil and sunflower oil at 45 percent and 50 percent import duties, respectively.

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

Original content

India imported 500,000 tons of corn this year at a discounted 15 percent import duty, the Indian government has announced. With the measure, New Delhi is trying to increase the supply of animal feed for the poultry industry. India, the world’s seventh-largest corn producer, typically imposes a 60 percent import tax on this agricultural product. Under the tariff quota, end-users in the poultry and starch supply sector can import corn, the government said in a statement. Until a few years ago, India was one of the largest exporters of corn to Southeast Asia, when it became an importer as production fell and demand for the products of domestic poultry and corn starch producers increased. According to government data, Indian corn imports in 2019 jumped to 312,389 tonnes from 30,962 tonnes a year earlier. India, which does not allow the cultivation of genetically modified food plants, has introduced rules to ensure that imports do not contain genetically modified plants. New Delhi has ...

Source: AgroForum