GOVERNMENT has suspended customs duty on fertiliser imports for the next 12 months to mitigate against looming shortages of the commodity.
Only approved importers will benefit from the duty waiver, according to Statutory Instrument 166 or 2023 issued yesterday by Finance minister Mthuli Ncube.
Part of the statutory instrument read: “In these regulations:— ‘approved fertiliser imported’ means any importer approved and licensed by the ministry responsible for Agriculture, in consultation with the ministry responsible for Industry and Commerce and the fertiliser manufacturing industry to import fertilisers in quantities not exceeding the tonnage specified in the schedule.”
According to the legislation, Agriculture minister Anxious Masuka shall approve a list of reputable fertiliser importers for the purposes of these regulations.
“Any approved fertiliser importer who sells fertilisers for which duty would have been suspended at prices equal or higher than fertilisers on which duty is ordinarily payable shall be liable to pay duty suspended and applicable penalties.”
The law comes as the new 2023/24 agricultural season kicks off with the threat of the El Niño drought looming large in the southern African region.
Farmers are facing increased costs of inputs owing mostly to the rapid depreciation of the Zimdollar that has fallen over 700% to the greenback.
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