Uzbekistan to extend benefits for imports of coconut and palm oil

Published 2024년 12월 16일

Tridge summary

The President of Uzbekistan, Shavkat Mirziyoyev, has extended privileges to producers of confectionery, beverages, and juices, allowing them to import palm and coconut oil duty-free until January 1, 2027. This decision, aimed at supporting these industries, follows an earlier approval in 2022 to exempt duties on imports of these oils, along with other raw materials, from Indonesia and Malaysia. The cost of production for Uzbek products has reduced by 20% due to direct imports of raw materials, packaging materials, and labels, leading to a significant increase in the competitiveness of Uzbek products both domestically and internationally.

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Original content

Producers of confectionery, beverages and juices will be granted privileges when importing palm and coconut oil. This was announced by the head of the Chamber of Commerce and Industry of Uzbekistan Davron Vakhabov after a meeting with President of Uzbekistan Shavkat Mirziyoyev, dedicated to the current situation in the food industry and plans for 2025. The head of the Chamber of Commerce and Industry noted that in 2022, entrepreneurs of this industry requested to exempt from duties imports of palm and coconut oil, as well as other raw materials not produced in the country, from Indonesia and Malaysia. The President then approved these exemptions, which expire on January 1, 2025, but in order to support the producers, at the meeting he approved a proposal to extend the exemptions for another two years. According to Vakhabov, there are currently 962 enterprises in the country that produce 189,000 tons of confectionery products. In recent years, exports of these products have ...

Source: UkrAgroConsult