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Brazil to remove import taxes on soybeans, corn to fight price increases

Oct 18, 2020 (MENAFN via COMTEX) --

(MENAFN) The Ministry of Economy declared on Saturday, October 17, that the Brazilian government will remove import tax on soybeans and corn to fight price increases in the food segment.

The ministry stated in a report that the country's Foreign Trade Chamber accepted a decline in taxes on soy and corn purchases in order to reduce inflation, which augmented 0.64 percent in September.

The measure follows a declaration made in September, which abolished taxes on rice imports until the end of 2020.

The drop in import taxes on soy will be suitable until January 15, and on corn, until March 31.

MENAFN1810202000450000ID1100974866

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