Brazil extends duty exemption on maize imports

12/10/2016,

The Government prolonged the duty exemption on maize shipments from non-Mercosur countries until 31 December this year. The duty had already been removed in late April for a period of 6 months (FPMA Food Policies). The measure aims to boost imports, in an effort to improve market supplies and ease prices, which in September were well above their year-earlier values despite recent declines. Tight domestic availabilities resulting from high exports earlier in the year and a reduced 2016 crop, due to dry weather, are the main drivers of the high prices (FPMA Domestic Price Warnings).

Country: Brazil