Licorice Product Prices May Be Further Lowered
At present, according to the notice of the Ministry of Finance, starting from September 15, 2018, the export tax rebate rate applicable to the goods listed in this notice is defined by the export date indicated on the export goods declaration form. The HS code is 29289090 and the export tax rebate rate will increase to 13%.
Based on this document, all licorice products, including licorice extract block, licorice extract powder, licorice spray powder, BP2017 grade ammonium glycyrrhizinate,EP9.0 grade Enoxolone, Dipotassium glycyrrhizinate, will be further reduced. It will bring more benefits to licorice products manufacturers and foreign customers.
In addition, the price of raw materials mentioned above has been lowered. The export price of licorice products including licorice extract, licorice extract powder, licorice cream, ammonium glycyrrhizinate, glycyrrhetinic acid and dipotassium glycyrrhizinate will usher in the lowest in history.