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USDA will fight Brazil's tariff on US ethanol

During the 12 months of 2017, Brazil imported a total of 1.82 billion liters. If the quotas were in force throughout the period, approximately 1.22 billion liters would have been taxed. During the 12 months of 2017, Brazil imported a total of 1.82 billion liters. If the quotas were in force throughout the period, approximately 1.22 billion liters would have been taxed.

The United States will fight against the quarterly quota and the 20% import tariff for ethanol imposed by Brazil in September. At least that's what says a spokesman for the United States Department of Agriculture (USDA).

Whitley said the entire department was working on the issue. "We are dedicated to resolving this issue," he said. "There is no stone we are not going to un-turn to open up this market."

Brazil is the second-largest ethanol producer in the world. It began importing large volumes of ethanol in 2016 as high sugar prices made the sweetener more attractive to sugarcane mills than ethanol. However, the entrance of the North American product in the national market pressured the prices for the plants that depend on the sale of the biofuel, especially in the Northeast. With this, the creation of a mechanism that protected the Brazilian producers entered the agenda of claims of the sector.

In September 2017, after several months of political discussions, Brazil imposed quarterly quotas of 150 million liters, which should remain for two years. Volumes exceeding this limit will be subject to a 20% rate.

 

February, 2018
Source: WebSite Nova Cana - www.novacana.com

 

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