- South Africa raised the customs duty on imported peanut butter from 0.99 cents per kg to 20% ad valorem to protect local producers from cheap imports, mainly from India.
- The tariff change also fixes a duty imbalance where raw groundnuts were taxed more heavily than finished peanut butter.
- The industry is also seeking zero-rated VAT status for peanut butter to keep it affordable as a key protein source for low-income households.
Source: globalimportblog.bakermckenzie.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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