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Gov’t Ends Subsidies for Import of Animal Feed Premixes

Gov’t Ends Subsidies for Import of Animal Feed Premixes

The government has discontinued the payment of subsidies for the import of animal feed premixes—vitamins, minerals, trace elements and other nutritional additives—used to prepare animal feed, Chairman of Iran Feed Industry Association Majid Movafeq Qadirly said. 

It has instead called on importers to meet their foreign currency requirements from the export earnings of non-oil products (petrochemicals, steel and minerals) traded through the so-called secondary FX market where exchange rates are closer to the free market rates.

“Importers of corn, barley and soybean meal can receive subsidized US dollar at the rate of 42,000 rials. The government is giving the subsidies in driblets, though. Importers are taking risks and they don’t see a bright future,” he was quoted as saying by Mehr News Agency. 

Source:- Financialtribune.com

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