Viet nam: MoF cuts import tariff on raw cashew to 3%

20/07/2011 12:00 - 388 Views

From July 25, the incentive import tariff on unprocessed cashew will be adjusted from 5% down to 3%, according to Lao Dong newspaper.

The change is written in Ministry of Finance’s Circular No 102/2011/TT-BTC to modifying incentive tariffs on cashew Category 0801.31.00.00 in the tariff frame of Circular No 184/2010/TT-BTC.

Previously, in May, the ministry sent a draft to seek opinion on the proposal of cutting import tariff on raw cashew from 5% to 0%.

According to Vietnam Cashew Association (Vinacas), the domestic volume of cashew has met only a half of processing capacity, even based on imported cashew. Meanwhile, the cashew purchase price is on increase.

Jul 19 2011
Source: Vietbiz24