Government will eliminate import tariffs on soybeans, corn and rice

The Government will temporarily remove tariffs on imports of rice, soybeans and corn from countries outside Mercosur, according to the Agricultural Policy secretary of the Ministry of Agriculture, César Halum, to Valor Econômico newspaper. 

The objective of the measure is to propose a balance in prices and combat impacts on inflation given the soaring prices of the three grains in Brazil, according to the secretary, who did not specify how long the exemption is valid. This Thursday (27) the measure will be voted on by the Executive Management Committee of the Chamber of Foreign Commerce (Camex). 

“We are unlikely to import anything. We have grains within Brazil and commercialization will normalize with this measure. The problem is that prices have skyrocketed. We cannot prohibit anyone from exporting. But we won't have any supply problems, that's guaranteed. Our fight is to control prices,” Halum told Valor. 

Still according to the news, the government's biggest concern is with rice – which had a drought trading at R$ 100.00 in parts of Brazil – and the impacts on the end consumer. “It’s a staple food. If there are people holding rice, speculating to increase the price, it could spawn, otherwise Brazil will import and balance the market”, said the secretary. 

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In soybeans, imports greatly exceed previous years given the scarce supply of the product. From Paraguay alone, purchases from January to August 15 total 455 thousand tons compared to 150 thousand in all of 2019. However, the market has been speculating that Brazil could import American soybeans, for example, a product for which the import tariff currently applies for countries outside Mercosur it is 8%, as in corn. 

OFFICIAL NOTE FROM ABPA

ABPA is in favor of eliminating tariffs on corn and soybean imports

The Brazilian Animal Protein Association (ABPA) is in favor of eliminating tariffs on corn and soy imports, as these sectors have become highly exporting.  
The Brazilian productive sector prioritizes grains produced internally. At the same time, it needs alternative sources when grains on the domestic market reach such high levels that it becomes more advantageous to import.  

ABPA defends the free market, therefore, just as it is not in favor of export restrictions, it also believes it is fair to allow balanced conditions for the import of inputs.

The possibility of importing is also essential for maintaining inflationary control, as high production costs will inevitably affect the price of food for the final consumer.

Source: Notícias Agrícolas

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