(Anova) - The Ministry of Finance has decided to increase the tariffs levied on animal meat imports by at least two percent.

A decision coded 83/2008/QD-BTC clearly states that import tariffs on fresh and frozen cattle meat products are to be raised from 15 percent to 17 percent, while rates for pork imports will increase from 25 percent to 27 percent.

Poultry meat and by-products will also suffer a hike in import tariffs with chicken the hardest-hit as the rates applied to the range of chicken products will increase from 15 percent to 40 percent.

The Vietnam Association of Feeds for Animal Husbandry said pork accounts for over 80 percent of the gross meat market volume, followed by chicken with 12 percent and cattle meat with between 3 and 4 percent.

Deputy President of the Vietnam Poultry Farmers Association Le Hong Man said the adjustment of import tariffs applied to meat products will help give a boost to the domestic animal husbandry industry.

The current import duty on meat products is comparatively low, which has helped cause major problems for the domestic industry, which has been hit by recent epidemics and increases in the price of animal feed.

The Ministry of Agriculture and Rural Development (MARD) said the new duties do not contradict Vietnam’s commitments to the World Trade Organisation as the country has reduced the tariffs applied to these products ahead of schedule.

(Source: VNA)