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Montevideo, January 26th 2021 - 19:29 UTC

 

 

Brazil renews wheat import quota free of tariff, from outside Mercosur

Thursday, November 26th 2020 - 08:40 UTC
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The renewed import quota from outside Mercosur was increased to 750.000 tons  The renewed import quota from outside Mercosur was increased to 750.000 tons

Brazil's Chamber of Foreign Trade (Camex) has renewed the import quota of 750,000 tons of wheat from outside Mercosur and exempt of the Common External Tariff (TEC) currently at 10%. Purchases can be made from Novr 18 this year to November 17, 2021.

The quota was established in a commitment made by the country to the World Trade Organization (WTO) in 2019. This July, due to the shortage of wheat in the Brazilian market and the high prices, CAMEX allowed the import of an extra quota of 450,000 tons, TEC-free, from outside Mercosur until November 17 of this year.

Brazil is one of the world's main importers of wheat. Almost 60% of domestic consumption comes from abroad mainly Argentina, other suppliers include United States, Uruguay and Paraguay.

Categories: Agriculture, Economy, Brazil.

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