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Vietnam's Ministry of Finance has proposed cutting the import tax on soybean meal to zero from 2% and reducing it on wheat and corn. Vietnam imported more than 5.1 million tonnes of soybean meal in 2020, and total demand has nearly doubled over ten years.
Removing the duty would lower landed costs and could lift Vietnamese meal imports, supporting world soybean meal demand at the margin.
van.nongnghiepmoitruong.vnBáo Nông nghiệp và Môi trườngJul 29, 2021After 172 past bullish policy events, SBM moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% over 20.
After 318 past bullish policy events, CORN moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 182 past bullish policy events, WHEAT moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
