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Poultry feed ingredients see cut in import duty

FE Report | June 08, 2018 00:00:00


The government has proposed reducing the import duty on soya cake and maize in the budget for fiscal year (FY) 2018-19 to boost the poultry industry.

Finance Minister AMA Muhith in his budget speech on Thursday proposed a 5.0 per cent regulatory duty (RD) on soya cake instead of the existing 10 per cent customs duty (CD).

He also proposed reviewing the import duty on maize, another major ingredient of poultry feed.

The budget proposed reducing the customs duty on maize import to 15 per cent from 25 per cent and increasing the regulatory duty to 10 per cent from 3 per cent.

Executive director of Nilsagor Agro Ltd. Md Arman Habib told the FE that soya cake accounts for 40-45 per cent of poultry feed.

The feed industry needs to import nearly 1.2 million tonnes of soya cake and 1.5 million tonnes of maize annually, he said.

The government's proposal for duty cut will definitely help reduce the prices of poultry and animal feed, he added.

Bangladesh Poultry Industries Central Council (BPICC) president Moshiur Rahman said the cost of maize import might remain almost static as RD has been increased.

But feed makers would definitely get a relief from duty cut in soya cake, he added.

Mr. Rahman said most of the poultry farmers incurred huge losses in the last one and half years due to low prices of poultry meat and eggs.

A cut in duty would help the feed industry reduce the feed prices and small farmers might benefit from it, he said.

The budget has also proposed raising import duty on starch, natural honey and many processed food items to protect the local industry.

The government slapped a 25 per cent import duty on such products.

People engaged in sea fishing would get benefit as the government cut the import duty on fishing net to 1.0 per cent from the existing 5.0 per cent.

tonmoy.wardad@gmail.com


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PARAMOUNT 17.0 18.7 16.7 18.7 10%
GLOBALINS 12.8 14.0 12.7 14.0 9.375%
MEGHNACEM 91.1 99.9 92.1 98.1 7.6839%
PROVATIINS 16.4 17.7 16.5 17.5 6.7073%
PURABIGEN 12.4 13.5 12.5 13.2 6.4516%
ASIAINS 16.7 17.7 17.0 17.6 5.3892%
KARNAPHULI 15.0 15.9 15.0 15.8 5.3333%
REPUBLIC 25.1 27.2 25.3 26.4 5.1793%
MIDASFIN 23.1 24.4 23.3 24.2 4.7619%
PRIMEINSUR 12.7 13.6 12.9 13.3 4.7244%
COMPANY YCP HIGH LOW CLOSE %CHG
GLOBALINS 14.0 14.0 12.7 12.7 10.2362%
PARAMOUNT 18.7 18.7 16.7 17.0 10%
GREENDELT 58.9 59.0 52.5 54.0 9.0741%
PURABIGEN 13.3 13.5 12.5 12.5 6.4%
PROVATIINS 17.4 17.7 16.5 16.5 5.4545%
MEGHNACEM 97.0 99.9 92.1 92.1 5.3203%
IFIC1STMF 4.2 4.2 4.0 4.0 5%
POPULAR1MF 4.2 4.2 4.0 4.0 5%
DAFODILCOM 34.9 35.1 33.3 33.3 4.8048%
FASFIN 13.5 13.6 12.8 12.9 4.6512%
COMPANY YCP HIGH LOW CLOSE %CHG
ALLTEX 14.0 14.4 12.6 12.6 -10%
AL-HAJTEX 98.2 105.3 88.4 88.4 -9.9796%
ISNLTD 31.5 28.4 28.4 28.4 -9.8413%
CAPMIBBLMF 11.5 11.6 10.4 10.4 -9.5652%
JUTESPINN 148.4 152.9 133.6 134.6 -9.2992%
KEYACOSMET 7.6 7.3 6.8 6.9 -9.2105%
KTL 29.7 30.2 26.8 27.0 -9.0909%
MLDYEING 39.6 40.3 35.8 36.2 -8.5859%
IBP 36.9 37.0 33.5 33.8 -8.4011%
GQBALLPEN 82.5 84.5 75.0 76.1 -7.7576%
COMPANY YCP HIGH LOW CLOSE %CHG
AL-HAJTEX 88.4 105.3 88.4 101.3 -12.7345%
ALLTEX 12.6 14.4 12.6 14.4 -12.5%
GQBALLPEN 75.0 84.5 75.0 84.4 -11.1374%
CAPMIBBLMF 10.4 11.6 10.4 11.6 -10.3448%
JUTESPINN 133.6 152.9 133.6 149.0 -10.3356%
KTL 27.0 30.2 26.8 29.9 -9.699%
MLDYEING 36.2 40.3 35.8 39.7 -8.8161%
IBP 33.9 37.0 33.5 37.0 -8.3784%
PRIMELIFE 53.8 59.7 53.8 58.0 -7.2414%
ARAMIT 431.1 463.0 429.0 463.0 -6.8898%