AreaBenin

Commodity GroupRice

CommodityAll

Date23/03/2022

Policy CategoryConsumption and marketing

Policy InstrumentConsumer prices, value added taxes

DescriptionDecided that imported rice would remain exempt from value-added taxes to lower the price of a 50 kg bag of rice in Cotonou from XOF 20 500 to 18 450 (from USD 0.65 to USD 0.59 per kg). The initiative followed an earlier move to partially exempt imported rice from value-added taxes and suspend all local taxes levied on domestically produced rice. The initiative will be effective for a period of three months and is part of a set of measures geared at taming food inflation, including a 50 percent rebate on the value of sea freight and a two-thirds reduction on the value of airfreight used for the purpose of customs duty calculations for all imported products.