On August 3, local time, the Executive Management Committee of the Chamber of Commerce for Foreign Trade (Camex) under the Brazilian Ministry of Economy approved the reduction of import tax rates on five industrial inputs, including glyphosate and glyphosate isopropylamine salts.
According to the decision of the Chamber of Commerce for Foreign Trade (Camex) under the Brazilian Ministry of Economy, the import tax rate of glyphosate in Brazil will be reduced from 9.6% to 3.8%. The tariff reduction measures will take effect on August 5 and will be valid for one year.
The Brazilian import tax reduction this time was achieved by including these products in the MERCOSUR List of Exceptions to Common External Tariffs (LETEC).
The List of Exceptions to External Tariffs (LETEC) is a MERCOSUR mechanism that allows member countries to import related products using tariffs different from those specified in the Common External Tariff (TEC).
In a note, the Camex committee said lower import duties were necessary due to "supply problems in some production chains" and "increased input costs in other chains".
Brazil may apply different rates to reduce import duties on up to 100 items. In addition to glyphosate, four other plastic resins used as industrial inputs are included: PET resins (from 11.2% to 4.2%); PP resins (11.2 to 4.4%); PVC-S resins (from 11.2% to 4.4%) % to 4.4%); and copolymers of ethylene and alpha-olefins (from 11.2% to 3.3%).
But mancozeb and mancozeb have been removed from the list.
Source: AgroPages
