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Policy measures taken by governments to reduce the impact of soaring prices
(as of 11 July 2008)

LATIN AMERICA AND THE CARIBBEAN

 
Argentina
 
   [May 2008] Despite a current ban on exports, the Government has authorized 100 000 tonnes of wheat exports to Brazil.
 
   [Jun 2008] To set monthly export quotas for wheat.
 
 
Brazil
 
   [May 2008] Extends tariff free wheat imports through July (tariff normally 10 percent).
 
   [May 2008] The PIS/Cofins social contribution tax on wheat, wheat flour and bread reduced to zero from 9.25 percent. The measure will cost BRL 500 million in lost tax revenue and will be effective until the end of the year.
 
   [May 2008] Taxes on wheat, wheat flour and bread are reduced.
 
 
Ecuador
 
   [Jun 2008] Ban on rice exports (except 20 000 tonnes to Venezuela).
 
 
Guyana
 
   [May 2008] Flour subsidies introduced.
 
   [May 2008] Free distribution of seed rice seeds.
 
 
Honduras
 
   [May 2008] Public stocks of maize and red beans to be sold at subsidized prices.
 
 
Mexico
 
   [Aug 2008] 250 000 tonnes of rice imports to be allowed without paying the 20 percent tariff tax.
 
   [May 2008] Removed import tariffs on wheat, rice, maize and fertilizers.
 
   [May 2008] Import of 100 000 tonnes of beans allowed without tariff.
 
   [Jun 2008] Prices of about 150 food items frozen until the end of 2008.
 
 
Nicaragua
 
   [May 2008] Import tariff removed for beans. Reduction of import tariffs to zero or 5% for some types of vegetable oils.
 
 
Panama
 
   [May 2008] The Government will buy the whole paddy production to be sold to consumers at subsidized prices