Soybean import duty lifted

JAKARTA (JP): The government has abolished its 20 percent import duty on soybeans to curb further price increases of the commodity in the domestic market.

The Ministry of Finance said yesterday that the move was needed to stabilize soybean trading.

The ministry also announced an extension of its import duty exemption facilities on the import of ship spare parts and ship safety equipment.

The tax facility for the import of ship spare parts will be valid through December. (hen)