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The Vice-President of Brazil, Geraldo Alckmin, stated on Thursday evening that the government will lower import tariffs on various food items to help lower inflation.
The government’s list of regulated foods comprises meat, sugar, corn, sunflower oil, olive oil, sardines, biscuits, and pasta.
The Minister of Development, Industry, Commerce and Services (MDIC), Geraldo Alckmin, announced at the Planalto Palace that the decision is part of an initial set of actions following a meeting with food sector representatives.
Alckmin mentioned that the government aims to encourage disagreements and support consumers by lowering tax rates and implementing various measures besides import taxes to control high prices.
The current import tax rates are 9% for coffee, 14% for sugar, 10.8% for meat, 7.2% for corn, and 32% for sardines. Additionally, the food tax is 14.4% and the biscuit tax is 16.2%.
Many of these products are not important due to their high taxation, according to Guilherme Mello, the Secretary of Economic Policy of the Federal Government.
The secretary anticipated that these measures would significantly influence consumers, but the vice president chose not to estimate the cost of individual items.
Alckmin mentioned that the measures would be implemented in a few days and highlighted that the export tariff was not part of the discussion.
The government had previously announced that the President would present measures to address food inflation, following discussions with the Ministers earlier in the day.
Government informs that refrigerators put on hold can now be exported to China.
The Ministry of Agriculture and Livestock’s Map announced that the three refrigeration units facing temporary export suspensions from China have been officially informed.
The government mentioned that the businesses are implementing necessary actions to fulfill the GACC (General Administration of Customs of China) standards.
The customs department of the country announced on its website that it has halted the import declarations of three different establishments: one in Nanuque (MG), one in President Prudente (SP), and one in Mozarlândia (GO).
The authorities in Argentina, Uruguay, and Mongolia also declared suspensions without providing a reason.
Brazil currently has 126 accredited cold plants. Upon taking over, 12 plants were inactive. These 12 have been reactivated, and an additional 43 have been opened, out of the total of 126 plants. Minister Carlos Fávaro stated that the suspension of three plants should not affect the commercial ties.
GACC conducted remote audits at the three refrigerators in Brazil.
China is the top importer of beef from Brazil, which influences price formation in the country by exporting cuts that have lower demand or commercial value domestically. This export activity benefits the overall market dynamics.
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