Increased export tax to 5% for cassava chips

Many biodiesel plants 'dying' / Cassava chips Vietnam exported more to South Korea
The Ministry of Finance has issued Circular 63 stipulated export tax rate of 5% for cassava products - raw material for the production of bioethanol (ethanol). According to the executing agency, after consultation of the adjusted tax rate from the government departments, local and industry associations, most agreed with the policy of export tax items.

Many biodiesel plants 'dying' / Cassava chips Vietnam exported more to South Korea
The Ministry of Finance has issued Circular 63 stipulated export tax rate of 5% for cassava products - raw material for the production of bioethanol (ethanol). According to the executing agency, after consultation of the adjusted tax rate from the government departments, local and industry associations, most agreed with the policy of export tax items.

Previously, under the Ministry of Finance, while the purchase price of 4.3 million cassava per ton, the export price was over 4.8 million. Therefore, cassava production almost domestic production are the traders buy to sell to China. With 0% export tax, calculated management agency, corporate profits will be more than 567,000 VND per ton. Increase tax rate to 5%, now still can rate each ton equivalent 324,000 VND.

Vietnam currently has some ethanol production plants of large capacity in some provinces such as Binh Phuoc, Quang Nam, Quang Ngai, Kon Tum, Dak Nong and Phu Tho with a total capacity could reach 500 million liters, phase 10 billion liters of E5 or E10 about 5 billion liters of gasoline.

But in fact, most of the plants are operating at full capacity due to lack of material seriously. 2014, Vietnam imported more than one million tonnes, but export nearly 2 million tons of cassava. Therefore, adjusting tax increase cassava exports from 0% to 5%, according to the Ministry of Finance to ensure that the demand for raw materials for the production of cassava ethanol in water.

Previously, under the Ministry of Finance, while the purchase price of 4.3 million cassava per ton, the export price was over 4.8 million. Therefore, cassava production almost domestic production are the traders buy to sell to China. With 0% export tax, calculated management agency, corporate profits will be more than 567,000 VND per ton. Increase tax rate to 5%, now still can rate each ton equivalent 324,000 VND.

Vietnam currently has some ethanol production plants of large capacity in some provinces such as Binh Phuoc, Quang Nam, Quang Ngai, Kon Tum, Dak Nong and Phu Tho with a total capacity could reach 500 million liters, phase 10 billion liters of E5 or E10 about 5 billion liters of gasoline.

But in fact, most of the plants are operating at full capacity due to lack of material seriously. 2014, Vietnam imported more than one million tonnes, but export nearly 2 million tons of cassava. Therefore, adjusting tax increase cassava exports from 0% to 5%, according to the Ministry of Finance to ensure that the demand for raw materials for the production of cassava ethanol in water.