0% Tariff Applied to 30,000 Tons of Chicken Starting July

Impact of AI on Brazil, Main Import Country, Dropping from 20-30% to 0%

From next month until the end of the year, the tariff rate on chicken will be reduced to 0%.

The government announced on the 30th that, in preparation for increased demand for chicken during the summer season, the tariff rate on chicken will be lowered to 0% starting from the 1st.

With this measure, chicken, which normally has a basic tariff rate of 20-30%, will be subject to a 0% tariff on 30,000 tons until the end of the year. However, to minimize damage to poultry farmers caused by increased imports, the timing and volume of chicken imports will be adjusted considering domestic supply and import inventory levels.

According to the Ministry of Economy and Finance, chicken prices have been rising recently due to increased production costs and decreased domestic supply. This year, the number of broiler chickens slaughtered is 64.42 million, a 5.5% decrease from last year’s 68.17 million. In mid-month, the consumer price of broiler chicken was 6,563 KRW per kilogram, a 14.8% increase compared to 5,719 KRW last year.

There has also been an impact from the recent outbreak of avian influenza (AI) in wild birds in Brazil, the main importing country. A Ministry of Economy and Finance official explained, "If AI spreads to poultry farms, imports from Brazil will be restricted, and international prices are likely to rise, so we quickly decided to reduce the chicken tariff rate."

[Image source=Yonhap News]

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