Taiwan is extending tariff and business-tax relief on several imported agricultural commodities through 31 March 2027, the US Department of Agriculture's Foreign Agricultural Service reports, cutting costs for grain, oilseed and beef imports.

The 5% business tax stays fully waived on soybeans, wheat and corn, and wheat keeps a full import-tariff waiver, from 6.5% to zero. Beef tariffs remain halved, from NT$10 to NT$5 a kilogram, and 50% tariff cuts continue on butter, anhydrous milk fat and milk powder used for baking.

The government says the relief is meant to limit the impact of higher international commodity and energy costs; Brent crude reached $130.54 a barrel on 15 September, more than 80% above late-February levels. Officials say they will keep monitoring world prices and adjust the measures as needed.

Taiwan relies heavily on imported feed grains, wheat and beef, which makes the extension important for exporters serving that market, including US grain, oilseed and beef shippers.

The report was by Tony St. James for All Ag News.

Source: All Ag News