South Africa sharply reduces wheat import tariff

18/04/2018,

On 6 April, the Government reduced the import tariff on wheat from ZAR 716.3 (USD 59.3) per tonne, in place since mid-December 2017, to ZAR 394.9 (USD 32.7). The 45 percent reduction was triggered by the recent price increases in the international market (FPMA International prices). Tariff adjustments are implemented when the benchmark US No.2 Hard Red Winter (HRW) wheat export price deviates from a base price, estimated at USD 279 per tonne, by more than USD 10 for three consecutive weeks. South African wheat imports account for approximately half of the domestic consumption requirements, while the country also exports small quantities to neighbouring states.

Country: South Africa