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EAEU to zero out import customs duty on coconut flakes for three years
The Board of the Eurasian Economic Commission decided to zero out the import customs duty on dried coconuts (coconut flakes, code 0801 11 000 0 according to CN of EAEU) for the period until July 31, 2027 inclusive.
“The customs tariff regulation measure aims to reduce costs, develop the exports of confectionery products from the Eurasian Economic Union countries, and increase their competitiveness in foreign markets,” Andrey Slepnev, EEC Minister in charge of Trade, noted.
He recalled that coconut palms do not grow in the EAEU due to natural and climatic conditions, so coconuts are not produced. Thus, the need for coconut flakes is fully met through imports.
The current rate of the CCT EAEU import customs duty for coconut flakes amounts to 3%.
The decision shall come into effect after 30 calendar days have elapsed from the date of its official publication.
Dried and shredded coconuts (coconut flakes) are a product of coconut processing used mainly in confectionery products: chocolates, sugary confectionery, cakes, pastries, cookies, and other similar products. About 20% of the volume of imported coconut flakes is consumed by other industries (perfumes, cosmetics, pharmaceuticals).
In accordance with Decision No. 131 of the Commission Board dated October 20, 2020 and Decision No. 80 of the Commission Council dated September 14, 2021, a temporary rate of import customs duty equaling 0% of the customs value was applied to coconut flakes from November 22, 2020 to December 31, 2023.
