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The decision was made last Friday by the Executive Management Committee (Gecex) of the Chamber of Foreign Trade (Camex) based on proposals submitted by the Ministries of Agriculture, Livestock and Supply (on soybeans) and the Ministry of Economy (on corn).
The temporary suspension of import tariffs for soybeans (grain, bran, and soybean oil) will be valid until January 15, 2021. Regarding corn, Brazilian tariff-free imports will be extended until March 31, 2021. Such dates are established in order not to compromise the sales of the next harvest, scheduled for the beginning of next year.
The increase in global food demand, caused by the onset of the COVID-19 pandemic, led, in the case of corn, to an increase in domestic consumption to supply animal protein production, which registered a growth in exports. In the case of soybeans and its derivatives, such as bran and oil, there was also an increase in foreign sales, which gained momentum with the rise of the dollar.
It is important to note that no shortage of products is expected, according to the director of MAPA. The objective is to promote an adjustment between the supply and demand of these products in the period prior to the 2020/2021 harvest, which will take place from the beginning of next year.
October 17, 2020/ MAPA/ Brazil.
www.gov.br/agricultura
