Butter price rise prevented


December 5, Fineko/abc.az. The term of preferential customs rate for import of butter, recombinant butter, whey and other oils, milk paste to Azerbaijan has been extended for another 2 years.

ABC.AZ reports that the above-said is covered by Cabinet Ministers’ Resolution from 4 December, envisaging change in the "Nomenclature of goods of foreign economic activity of Azerbaijan, rates of import customs duties and rates of export customs duties".

According to the decision, the term of low customs duty on butter imported in Azerbaijan has been extended until 31 December 2021. The move was taken to prevent retail butter prices from rising.

Since 2017 a preferential customs duty of 5% has been applied to imports of butter, recombinant oil, whey and other oils, milk paste in Azerbaijan. Previously, when importing these products, a customs duty of 15% was charged.