Guyana ministry grants 50% duty wavier on chicken imports

Guyana’s Ministry of Commerce and Industry has granted 12 individuals licence to import up to 453.6 tonnes of chicken meat for a three month period. The waiver comes after weeks of price monitoring and market scrutiny.

Scarcity of chicken products and a increase in the price of chicken on the domestic market prompted the acting Minister of Commerce and Industry, Irfan Ali, to take this step.

Importers were granted a 50% waiver on import duties instead of the 60% they requested, for permission to import one million pounds over the next six months.

The duty waiver licenses will expire on September 12, 2012 to discourage permit hoarding.

Permits will be regularly reviewed to protect consumers and ensuring that they can buy chicken in adequate supply and at affordable prices. The minister said that the sector will be evaluated in the next six weeks to see whether the poultry market has stabilised.

Cabinet Secretary Dr Roger Luncheon seconded the minister’s statements. Chicken prices in Demerara are now €2.97 and €3.41 per kg for chicken.

“Apparently poultry meat is going to the hinterland….. Shortage on the cost which led to the price increase Cabinet agreed to imports” the Minister said.

When the National Communications Network visited markets around Georgetown earlier in the month, many vendors explained that the escalating prices are due to a glut experienced in the market. They added that the increase is a normal phenomenon after such an occurrence.

Source: NCN Guyana