Cabinet approves list of imported food products to be exempt from customs dutySociety
Ulaanbaatar /MONTSAME/. At its regular meeting today on May 18, the Cabinet approved a list of imported sugar, vegetable oil, and rice to be exempt from customs duty, and tasked Minister of Food, Agriculture, and Light Industry Z.Mendsaikhan to establish agreements with importing companies, which state the rights and responsibilities of the sides involved, in order to ensure the stability of the products’ prices.
To prevent the rise in price and shortage of key commodities, the State Great Khural approved the Law on Exemption from Customs on April 29, 2022. In its framework, the appropriate conditions were created for exempting sugar, sugarcubes, vegetable oil, and rice from customs duty until the end of the year and stabilize its supply and prices.
By exempting the main imported foods from customs duty, its prices are estimated to decrease by 4-7 percent.