Bangladesh Slashes Egg Import Duties, From 25% To 5%

Share

Tweet

Share

Share

Email

Comments

The reduced import tax for eggs will be valid until December 31 this year, reports Xinhua news agency.

Read More: Foreign Exchange Reserves Drop $10.7 Billion To $690.43 Billion

Bangladesh’s National Board of Revenue (NBR) Thursday drastically cut import duty on eggs from 25 per cent to 5 per cent to help rein in prices. The egg import duty cut would reduce import costs of eggs by 13.8 takas per dozen, making the country’s cheapest source of protein affordable for the commoners, the NBR said in a statement after issuing an order in this regard.

Read More: Cryptocurrency prices on October 18: Bitcoin rises above $67,800; Dogecoin and Shiba Inu jump up to 10%

The reduced import tax for eggs will be valid until December 31 this year, reports Xinhua news agency. Recently, Bangladeshi people reportedly cut short consumption of eggs as prices soared to 200 taka a dozen over the last week in the capital Dhaka and elsewhere in the country.

Read More: Hindustan Zinc Q2 results: Net profit jump 35% to Rs 2,327 crore; revenue up 21%

Bangladesh has a daily demand for 40 million eggs, the country’s Ministry of Commerce estimates. ($1 equals about 120 taka). Earlier this month, Bangladesh had reduced import duty on refined sugar to improve its supply in the market.