- South Africa increased customs duties on certain peanut butter imports to protect domestic producers.
- The tariff changed from 0.99 cents per kilogram to 20% ad valorem.
- The goal is to shield the local industry from low-priced imported peanut butter.
- The industry is also seeking zero-rated VAT status to keep peanut butter affordable for low-income households.
Source: 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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