Share

Proposed tariff on imported ramen could raise prices

Proposed tariff on imported ramen could raise prices

By Belize Live News Staff: Belizeans may soon feel the impact of a proposed tariff on imported ramen noodles following the introduction of a new bill in the House of Representatives on Friday.

The bill seeks to impose a 20 percent tariff on imported ramen noodles, a widely consumed product across the country. The Prime Minister explained that the measure is intended to support local noodle production and that Belize has received the necessary approval from CARICOM to implement the tariff.

It is understood that noodles typically carry a standard import tariff of 35 percent, which was suspended approximately 15 years ago under the former UDP administration to make the product more affordable for low-income consumers.

If the bill is approved, imported ramen brands could see an increase in prices, potentially shifting consumer demand toward locally produced noodles.

Read Also

Buy Giti tires and get a chance to win $5,000 cash
BDF, Coast Guard and National Security officials to meet US counterparts on cartel threat
Why are fewer tourists coming to Belize? BTB points to a long list of pressures
Join our WhatsApp News Channel

Stay connected with Belize Live News for breaking stories, updates, and everything happening in Belize right now.

Trending Now

Buy Giti tires and get a chance to win $5,000 cash
Buy Giti tires and get a chance to win $5,000 cash
BDF, Coast Guard and National Security officials to meet US counterparts on cartel threat
BDF, Coast Guard and National Security officials to meet US counterparts on cartel threat
Why are fewer tourists coming to Belize? BTB points to a long list of pressures
Why are fewer tourists coming to Belize? BTB points to a long list of pressures
Escape winter in Belize: new route timed for Europe’s cold season
Escape winter in Belize: new route timed for Europe’s cold season

Popular Tags