A Fourth Estate® Service

Thursday, January 14, 2021

Brazilian Government Will Eliminate Tariffs on Soy and Corn until Next Year

The Brazilian government decided to temporarily eliminate tariffs on soy and corn imports from nations outside the Mercosur trade bloc until next year, in a move that reverses one of the main policies of conservative President Jair Bolsonaro.

The Brazilian government decided to temporarily eliminate tariffs on soy and corn imports from nations outside the Mercosur trade bloc until next year, in a move that reverses one of the main policies of conservative President Jair Bolsonaro.

Government officials that refused to be identified said that the decision was taken on late Saturday at a meeting of Gecex, which is a technical body within Brazil’s economy ministry.

The government officials told the TV network that soy oil and soybean meal imports will also be exempt along with soy imports until January 15th 2021, while corn imports will not pay the tariffs until March 31st next year.

The Brazilian meat trade group ABPA, which represents the pork and poultry sector and relies on grain as animal feed, requested the exemption in August by arguing that current record-high prices in the country were hurting their margins. 

The tariff on soy and corn imports from outside Mercosur, which includes Uruguay, Paraguay and Argentina, is currently 8 percent.

Article © 2020 Fourth Estate® — All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Recent Articles

Istanbul Could Run Out of Water in 45 Days, Group Warns

The Turkish Chamber of Chemical Engineers has warned that Istanbul could run out of water in 45 days as Turkey faces a severe drought...

Dropbox to Cut 11% of Global Workforce

Dropbox would lay off 11 percent of its workforce worldwide, citing that such a move is “necessary to implement new strategies” that the company...

Hackers Steal and Leak Pfizer COVID-19 Vaccine Data

The European Medicines Agency (EMA) disclosed that Pfizer/BioNTech COVID-19 vaccine data that was stolen from its servers last year has been leaked online by...

More Than 80 Civilians Killed in Western Ethiopia Attack

More than 80 civilians were killed in the latest attack in the Benishangul-Gumuz region, the country’s human rights commission said on Wednesday, as fears...

Israeli Jets Strike Iranian Targets in Syria Near the Iraq Border

Israeli jets have struck Iran-backed targets in Syria, early on Wednesday. Israeli jets have struck Iran-backed targets in Syria, early on Wednesday. State media...

Get the Daily NewsBrief in your inbox

Related Stories