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Brazil suspending tariffs on corn and soy until 2021

Christian Fernsby ▼ | October 19, 2020
Brazil will suspend tariffs on corn and soy imports from countries outside the Mercosur trade bloc until early next year, the economy ministry said.
Brazil soy
Brazil   The decision to remove the tariffs temporarily was taken
The decision to remove the tariffs temporarily was taken late on Friday at a meeting of Gecex, a technical body within the economy ministry, as reported by Reuters.

Topics: Brazil

Soybean meal and soy oil imports will also be exempt along with soy imports until Jan. 15, 2021, while corn imports will cease paying the tariffs until March 31, 2021, the ministry said in a statement.

“Both measures are aimed at containing high prices for food,” the ministry said.


 

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