United Kingdom hikes wine duty but freezes duty on beer, spirits and cider

UK – United Kingdom Chancellor Phillip Hammond has announced that duty tax on wine will increase while that on beer, spirits and cider would remain the same in line with the rate of inflation, effective 1 February 2019. Duties on beer and spirits will remain at the same level as last year in a bid…

Kenya imposes new tariffs on Tanzanian flour as trade war escalates

KENYA - Kenya has announced 25% import duty on Tanzania’s products like flour, saying it is produced from imported wheat which contravenes the East African Community (EAC) rules and regulations on such products, reports Business Daily. The two countries have had a long-time battle regarding some products such as sugar, flours and cement products, blaming…

China imposes 25% tariff on American whiskey as trade war continues

CHINA - China has imposed a 25% tariff on American whiskey in response to the US adding tariffs to an extra US$34 billion worth of Chinese products, as “the largest trade war in economic history” gets under way. According to The Spirits Business, China is the latest nation to retaliate against the US’s tariff increases,…

Alcohol beverages stakeholders reject government’s proposed excise duty rate increase

NIGERIA - Stakeholders in the alcohol beverage industry declared their opposition to the recent 500% increase in excise duty rates on alcohol by the Federal Government, according to Beverage News. The stakeholders, which includes the Nigerian Labour Congress (NLC), Manufacturers Association of Nigeria (MAN), Distillers and Blenders Association of Nigeria (DIBAN), and the Association of…

Government to review excise duty increase on locally produced alcohol

NIGERIA - The Federal government of Nigeria is considering to review the recent increase in tariff rates on alcoholic drinks produced locally, reported Beverage Industry news quoting information from the Minister of Labour, Senator Chris Ngige. According to the minister, the government will review the new 500% excise duty, which came into effect on June…

Tanzania to scrap 65% cashew export levy remitted to farmers

TANZANIA - The government of Tanzania has proposed changes to its Cashewnut Industry Act (Cap, 203), scrapping the 65% of the crop export levy remitted to farmers through the Cashewnut Board of Tanzania (CBT). Amendment to the law will see the export levy collected in the consolidated fund, instead of the current situation where some…

Tanzania liquor manufacturers lauds proposal for electronic tax stamps

TANZANIA - Alcoholic beverages manufacturers of Tanzania have expressed their confidence in the proposal to introduce electronic tax stamps set to replace the paper stamps currently used, reported the Citizen. The manufacturers said they were embraced with the government's 2018/19 budget which gave provision to stop illegal production of liquors or those that could reach…

UK MPs call for ban in cartoons and fictional characters use on food products

UK - A group of UK MPs has called for a ban on cartoon and fictional characters being used to promote unhealthy, high-sugar foods as part of a raft of proposed measures to cut down on childhood obesity. According to FoodingredientsFirst, stripping out familiar characters like Kellogg’s breakfast cereal’s Tony the Tiger and Coco Monkey…

Cargill reports financial results for fiscal 2018 third-quarter

MINNEAPOLIS - Cargill has reported financial results for the fiscal 2018 third quarter and first nine months ended Feb 28, 2018, reporting a 22% decrease in its net income from last year’s US$715 million. According to the company, these earnings included a net charge of US$161 million related to the recently enacted U.S. Tax Cuts…

High refined sugar prices grow Dangote Sugar’s revenue by 20%

NIGERIA - Dangote Sugar, the Nigerian refined sugar manufacturer grew its revenue by 20.44% to US$568.28 million in its full year ended December 31, 2017 attributed to high prices of refined sugar. The company posted a profit before tax of US$149m, a 173% increase from US$54.52million recorded in the corresponding period of last year. According…