March 29 2004, 12:20 BelTA

Belarus cancelled import duty for soymeal and oilcake

A resolution of the Belarusian Council of Ministers of March 18 this year has suspended until the end of 2004 the effect of customs duties for import of oilcakes and other solid secondary products of soyoil extraction, as well as ground, non-ground, granulated and non-granulated varieties of oilcake. According to the former resolution of June 28, 2002, the oilcakes and secondary products of soyoil extraction were subject to a 5 percent customs duty in imports onto the territory of the country.

The decision about the duty-free imports has been taken due to a necessity of increasing the supplies of oilcake, as a basic protein-containing raw material, needed by the country's livestock-breeding industry. Cancellation of the duty will help make the product of livestock sector cheaper. A spokesman for the Ministry of Agriculture and Food has said to BelTA news agency that soymeal is being currently imported to Belarus from the countries of South America and Portugal. The ministry's officials believe that the duty-free import procedure will attract new supplies of this product to the country.