Deposits to be imposed on agricultural importers

The Economy Ministry said yesterday it would require farm produce importers to pay deposits as of January 1, 2003, and traders said they feared that as a result soymeal imports would fall and feed prices rise. Industry analysts said a new bill, designed to protect the local agriculture sector, could disrupt feed supplies and lead to the bankruptcy of small and medium-sized grain trading companies. The bill obliges all importers of soymeal, a major ingredient of feed, to pay a deposit of euro 20 per tonne of declared imports before they obtain an import permit. Deposits for soybean, palm, rapeseed and sunseed oil were set at euro 80 per tonne. If importers fail to bring in the promised amount of the products, the deposit - or part of it - will be forfeited. The regulation, which does not apply to duty-free quotas, also introduces a compulsory euro 10 per tonne deposit on wheat, rye, oats and maize imports. But it is not likely to affect grain traders since most grain imports come under zero-duty agreements with the EU or Eastern E uropean states. (Reuters) A.Z.