According to reports, the free-trade plan of the Association of Southeast Asian Nations (Asean) will lower feed costs for poultry and hog farmers. The plan is awaiting implementation.The Asean Free Trade Area-Common Effective Preferential Treatment (Afta-Cept) will eliminate tariffs, making alternative feed materials such as tapioca more affordable. The current tapioca tariff is 35%.
Other tariffs to be lifted include those on soybean meal and DDGS at 3%, and soybeans at 1%. Under the new plan, a 35% tariff on yellow corn imposed by Manila, Philippines, will also cease, potentially opening up new markets.
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