# Soybean meal needs reduced import tax

> 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.

- Date: 2021-07-29 · published 2021-07-29T12:00:00.000Z
- Category: policy · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/46151-soybean-meal-needs-reduced-import-tax
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Removing the duty would lower landed costs and could lift Vietnamese meal imports, supporting world soybean meal demand at the margin.

## Read by commodity

- SBM: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2020-12-29 | [Soybean complex temporary tariff reduction to end in January](https://feedsoft.ai/events/49493-soybean-complex-temporary-tariff-reduction-to-end-in-january.md) | +4.8% | +6.3% |
| SBM | 2025-01-01 | [China’s crop import curbs causing soybean shortage](https://feedsoft.ai/events/14701-china-s-crop-import-curbs-causing-soybean-shortage.md) | -3.4% | +1.0% |
| SBM | 2024-12-01 | [U.S. Soybean Oil Market Threatened by Imported Feedstocks \| Illinois Soybean Association](https://feedsoft.ai/events/15160-u-s-soybean-oil-market-threatened-by-imported-feedstocks-illinois-soybean.md) | -1.3% | +3.6% |
| SBM | 2016-12-13 | [China's soybean meal futures rise to 5-month high RAID](https://feedsoft.ai/events/73553-china-s-soybean-meal-futures-rise-to-5-month-high-raid.md) | -0.8% | -1.3% |
| SBM | 2021-07-21 | [SEA asks govt to allow soyabean meal import to help poultry industry  - The HinduBusinessLine](https://feedsoft.ai/events/46146-sea-asks-govt-to-allow-soyabean-meal-import-to-help-poultry-industry-the.md) | -1.4% | -1.1% |
| CORN | 2022-09-22 | [China to Cut Soybean Meal in Livestock Feed \| Feed & Grain](https://feedsoft.ai/events/39574-china-to-cut-soybean-meal-in-livestock-feed-feed-and-grain.md) | -2.8% | +1.3% |
| CORN | 2018-09-02 | [Argentina IMF deal could mean reversal of Macri's grain tax cuts](https://feedsoft.ai/events/62868-argentina-imf-deal-could-mean-reversal-of-macri-s-grain-tax-cuts.md) | +0.9% | +1.1% |
| CORN | 2024-07-02 | [Mexico’s new leadership to drop plan for reducing yellow corn imports \| World Grain](https://feedsoft.ai/events/29233-mexico-s-new-leadership-to-drop-plan-for-reducing-yellow-corn-imports-world.md) | +0.8% | +0.7% |

## Sources

- van.nongnghiepmoitruong.vn: https://van.nongnghiepmoitruong.vn/soybean-meal-needs-reduced-import-tax-d298463.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.