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Increased import duties on soybeans will lead to higher food prices in Pakistan

The Pakistani Association of Oilseed Processors believes that the planned increase in soybean import duties will lead to higher food prices.

It is planned to increase the import duty on feed soybeans from 6% to 17%. Soy used for oil production will be subject to sales tax of 17%.

According to the calculations of the Association of oilseed processors, the tightening of the tax on imported soybeans will lead to an increase in prices for chicken meat by $ 0.13 per kg, for soybean oil — by $ 0.1 per liter.