USDA attache sees hurdles to Brazil importing U.S. soy, corn
Oct 19 (Reuters) - Following are selected highlights from a report issued by a U.S. Department of Agriculture attache in Brasilia:
"On Oct. 16, Brazil announced that it would suspend the import tariffs on corn, soybeans, soy meal, and soy oil from countries outside the Mercosur trade bloc. The tariff on corn and soy imports from outside Mercosur is currently 8%, 6% for soy meal, and 10% for soy oil. Post anticipates that the decision will be published in the Brazilian Federal Register in the next couple of days and will come into force the same day. The import tariff waiver will apply to soybean and soy products until Jan. 15, 2021, and for corn imports until March 31, 2021. The waiver will apply to all incoming imports with no quota. Post sees several hurdles to substantial imports from the United States due to current price spreads and several regulatory and logistical challenges."
To read the full report, click: https://bit.ly/2T5BBeu (Reporting by Julie Ingwersen; Editing by Lisa Shumaker)
© Copyright Thomson Reuters 2020. Click For Restrictions - http://about.reuters.com/fulllegal.asp