War against inflation : cut on import duties… on soybean

More Zimbabwe non sense is coming from the Inflation War Room, AKA the Commerce Ministry.

After the temporary subsidy for diesel, after the temporary cut of prices of toothpastes and soaps, here comes the temporary cut of import duties on soybean (from 4 % to 0).

Soybean is used to feed porks. The prices of pork are increasing… therefore… you follow the logic ? ;-)

Comment : ” Lowering the duty for soybean meal will help cut production costs, however, as 70 per cent of the requirements are imported. But since soybean meal makes up only 30 per cent of feed ingredients (corn is 60 per cent) and the import tariff is only 4 per cent, the duty removal is unlikely to lower feed production costs by more than 1 per cent, Phatra said.” (Nation)

Great. Come on Mister Minister, you can do better ! ;-)

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