AreaRepublic of Korea

Commodity GroupOilseeds, oils and meals

CommodityCottonseed meal

Date01/02/2015

Policy CategoryTrade

Policy InstrumentImport policy

DescriptionAnnounced tariff policy changes meant to stabilize domestic consumer prices, including the introduction of voluntary tariff-rate quotas for soybeans, animal/vegetable fat for animal feed, soycake and cottonseedcake for feed. .

NotesReportedly, the government of the Republic of Korea announced revisions to the tariff schedule for 2015 with a view to stabilizing domestic consumer prices of certain agricultural products. The changes include the introduction of voluntary tariff-rate quotas for soybeans, animal or vegetable fat for animal feed, soybean oilcake for feed and oilcake of cottonseed. Within-quota purchases will be exempt from import tariffs.