Good News for Coffee Lovers, Sad News for Alcohol Lovers

Coffee prices, especially due to the climate crisis in Brazil was increased by 100 percent. The lack of goods and supply problems with the coronavirus caused the price of coffee, which was 50 TL per kilogram, to reach 100 TL. As such, the government has reduced coffee prices to some extent. to restrain took a new decision.

According to a Presidential Decision in today’s issue of the Official Gazette, the implementation of coffee imports from some countries customs duties have been reduced. For example, customs duty will be applied as 15 percent for coffee to be imported from EU countries. On the other hand, customs duty on coffee imported from Bosnia and Herzegovina, South Korea, Georgia and Malaysia and Venezuela has been completely removed. Similarly, customs duties on coffee imports; 4.8 percent for Singapore, for countries in the D-8 (8 Developing Countries) category 10 per cent, for Switzerland and Liechtenstein 11 percent and for all other countries 17 percent form was determined.

A raise in alcoholic beverages is at the door

The same Presidential Decree, the only type of alcohol used in the production of alcoholic beverages, of ethyl alcohol It also increased customs duties on imports. In this context; The 0% customs duty on ethyl alcohol imported from the EU is no longer 50 percent will be applied. For South Korea, Malaysia and Singapore and D-8 countries 70 percent The tax rate set for Venezuela is 35 percent it will be. However, this rate will be applied as 0 percent for Bosnia and Herzegovina, Georgia and Kosovo. Increasing the customs tax may be reflected as a new wave of hikes in alcoholic beverages. Coffee prices will likely fall.