Good News for Coffee Lovers, Sad News for Alcohol Lovers

Coffee prices, especially due to the climate crisis in Brazil, had increased almost 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 took a new decision to rein in coffee prices, albeit a bit.

According to a President’s Decision in today’s issue of the Official Gazette, customs duties on coffee imports from some countries 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; It was determined as 4.8 percent for Singapore, 10 percent for countries in the D-8 (8 Developing Countries) category, 11 percent for Switzerland and Liechtenstein, and 17 percent for all other countries.

A raise in alcoholic beverages is at the door

The same Presidential Decree also increased the customs duties on the import of ethyl alcohol, the only type of alcohol used in the production of alcoholic beverages. In this context; The 0 percent customs duty applied to ethyl alcohol imported from the EU will now be applied as 50 percent. The tax rate, which has been determined as 70 percent for South Korea, Malaysia, Singapore and D-8 countries, will be 35 percent for Venezuela. 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, on the other hand, will likely fall. . .