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The Korea Herald
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THE INVESTOR
March 29, 2024

Economy

Cabinet OKs removal of import tariffs on egg products

  • PUBLISHED :January 03, 2017 - 11:33
  • UPDATED :January 03, 2017 - 12:59
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[THE INVESTOR] The Cabinet approved a regulation on removing import tariffs on egg products in the latest move to resolve a supply shortage sparked by the worst outbreak of bird flu, officials said.

The move will allow local companies to import 98,000 tons of shell eggs, powdered eggs and six other types of egg products without tariffs between Jan. 4 and June 30.

The government said it will later decide whether to extend the temporary lifting of tariffs by taking into account the supply and demand situations of eggs, the officials said.

Currently, South Korea imposes 8 to 30 percent tariffs on imported egg products.

South Korea has been in talks with the US, Canada, Australia, New Zealand and Spain on importing egg products, though it remains unclear when the imports could begin.

The planned imports of eggs is also meant to stabilize prices of eggs that have risen sharply in recent weeks.

(theinvestor@heraldcorp.com)

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