Azerbaijan has prepared a draft document on the exemption of soybean imports from VAT

Published 2023년 2월 17일

Tridge summary

Azerbaijan is seeking to exempt soybean imports from VAT, as it is one of the largest importers of beans for animal feed in the Caucasus and Central Asia region. The country's main suppliers are Brazil, the USA, Argentina, Russia, and Paraguay. Currently, the purchase price for domestic entrepreneurs is $810 per ton, while in Turkey it is $560 per ton, and local businessmen are unable to compete in the market. Azerbaijan plans to increase soybean production by attracting foreign investment in its agricultural sector.

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Original content

The head of the Azerbaijan Association of Producers and Exporters of Poultry Meat and Eggs, Myurvyat Hasanli, said that the Cabinet has prepared a draft document on the exemption of soybean imports from VAT. Azerbaijan is one of the largest importers of beans used as animal feed in the Caucasus and Central Asia region. Its main suppliers to the republic are Brazil, the USA, Argentina, Russia and Paraguay. "Soybean imports today are carried out mainly from Argentina and Brazil. The purchase price for domestic entrepreneurs is $810 per ton, while in Turkey it is $560 per ton. Azerbaijani businessmen say that because of this they cannot compete in the market. The annual ...

Source: Oilworld