- February 15, 2021
- Posted by: Taapano Paradza
- Categories: Duty Increase, Duty Removals
Import duties on wheat have dropped considerably from 54.42c per kg to 10.27c per kg and flour from 81.63c per kg to 15.41c per kg. This is the second decline since November 2020 and the first change in wheat and flour duties in 2021.
The wheat duties are calculated using a variable tariff formula. This ensures that import duties are triggered when international prices are low. The duty is only active when international prices drop below a certain price level known as the reference price. The reference price is currently $279 per ton.