China grants tax exemption to 14 Brazilian chicken meat export companiesStaff Writer |
Asia China has moved to charge taxes of between 17.8% and 32.4%
China has announced that it will exempt 14 Brazilian companies, including BRF and JBS and considered to be the world’s largest suppliers of chicken meat, from anti-dumping taxes.
The exemptions are the result of months of negotiations between Brazilian poultry producers and China to resolve restrictions in place since 2017.
China has moved to charge taxes of between 17.8% and 32.4% on all Chinese imports of Brazilian chicken meat over the next five years.
Brazil is the world’s largest meat exporter and the largest foreign supplier to the Chinese market.
The decision came after Chinese chicken prices hit records as domestic supplies rose.
China has banned imports of breeding birds from many major suppliers because of outbreaks of bird flu. ■
What to read next