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Ministry of Finance zeroes out coconut export tax

Update: July, 23/2012 - 10:18

BEN TRE – The Ministry of Finance has issued a circular zeroing out the export tax on fresh coconuts effective September 1, a move aimed at easing difficulties of coconut growers amid shrinking global demand and falling prices.

Coconut prices decreased sharply in the first half of the year and coconut export value also plunged by 51.3 per cent against the same period last year to a total of US$21.2 million, according to the Ben Tre People's Committee. — VNS

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