Coffee industry tackles high tariffs for growth

The coffee manufacturing and branding companies are currently facing a significant challenge that is affecting their market access and hindering their formal business growth. Stakeholders have identified that the issue lies in the high tariffs imposed on raw materials, intermediate goods, and capital goods. To address this concern, a plan has been proposed to gradually reduce these tariffs, as well as additional customs duty and regulatory duty.

This move is expected to help the coffee industry by making it more cost-effective to import necessary materials and equipment, ultimately boosting production and improving competitiveness in the market. By easing the financial burden on companies, they will be able to invest more in innovation and expansion, leading to overall growth and sustainability in the industry.

The gradual reduction of tariffs on key components for coffee manufacturing is a positive step towards supporting the growth of businesses in this sector. By creating a more favorable environment for companies to operate in, the industry can thrive and contribute to economic development. This change not only benefits the stakeholders involved but also has the potential to enhance the quality and availability of coffee products for consumers worldwide.