Reduced customs duty on peanuts, savings up to EUR 300,000

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    Reduced customs duty on peanuts, savings up to EUR 300,000

    The customs duty on the import of peanuts has been reduced from the previous five to two percent, and this will make it possible for the Serbian confectionery industry and producers of products with peanuts to save annually up to EUR 300,000, but also to have a more competitive position on the international market, the Serbian Chamber of Commerce has stated.

    The reduced customs duty on peanut import is the result of a successfully implemented initiative sent by the Serbian Chamber of Commerce and its members from the confectionery industry to the relevant ministries of agriculture and finance.

    The duty on peanuts in Serbia was five percent, while in the European Union, imports were exempt from this levy.

    Companies mostly import peanuts from Argentina and India, the countries with which Serbia does not have free trade agreements, so there are no import benefits for confectioners and producers of peanut products.

    A five percent levy increases the price of the final product by approximately four percent, and with this two percent reduction, conditions have been set out for Serbian companies to find their place and strengthen their positions in the international trade on an equal basis with other confectioners, Saska Biorcevic from the Association for Plant Production and Food Industry of the Serbian Chamber of Commerce has explained.

    She recalls that a total of approximately 9,500 tons of peanuts, valued between EUR 12 and 13 million are imported to Serbia on an annual basis.

    Izvor: RTS

    Foto: Pixabay

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