Panama: Protectionism in the Bovine Meat Market

With the approval of a decree declaring beef and all its edible offal as sensitive products, importers in the country will not be able to opt for tariff exemptions.

Thursday, December 12, 2019

The Cabinet Council approved Cabinet Decree No. 29 dated December 10, 2019, which declares as sensitive products for the national economy all beef, whether fresh, chilled, frozen, salted, smoked, or processed, as well as all edible bovine offal, whether fresh, chilled or frozen, reported the Ministry of Agricultural Development (MIDA).

You may be interested in "Beef Meat: Regional Sales up to March 2019"

This decree was approved with the purpose of preventing importers from avoiding the tariff protection established for this item ranging from 25% to 30% tariff.

The MIDA statement adds that "... By qualifying beef and beef offal as a sensitive product would not be allowed to apply 3% duty exemptions to those importers, industries or processors who import these products as inputs, raw materials, or intermediate goods under the laws of industrial development."

The document specifies that "... The decree excludes raw material that is not available in the country, with the characteristics required by agro-industry such as frozen beef in irregular pieces called trimming."

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