April 22 2003, 15:55

Russian commission wants to cancel duty for soybeans, but to renew duty for soymeal

Governmental commission on protective measures in foreign trade and customs and tariff policies on April 19 decided to recommend Russian government to cancel the 5 percent import duty for soybeans, but to renew the 5 percent duty for soya meal, which had been cancelled on March 25, 2003.

According to a representative of Russian Ministry for Economic Development, this measure will encourage development of domestic soybeans processing.