Brazil removes import tariffs on beef, chicken meat

Tariffs on sulfuric acid for fertiliser also cancelled
calendar icon 12 May 2022
clock icon 1 minute read

Brazil's government announced the removal of import tariffs on food products starting from Thursday until year-end, acknowledging the goal of easing inflation, reported Reuters, citing the Economy Ministry on Wednesday.

The measure will affect beef, chicken meat, wheat and wheat flour, crackers and biscuits, corn and other bakery products.

The government also cancelled tariffs for imports of sulfuric acid, used in fertilizers, and reduced the rate for mancozeb fungicide to 4% from 12.6%, lowering agricultural production costs.

All products were included in the differentiated import tariff regime for Mercosur members, which allows rates to be zeroed without the need to negotiate with other members from the South American trade bloc.

President Jair Bolsonaro, who is seeking re-election in October, has already reduced taxation on industrialised products (IPI) and eliminated tariffs on ethanol and six other basic food products in an attempt to curb inflation.

Source: Reuters

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