AgroPages-Monsanto Will Lobby Brazil to Boost Tax on Chinese Herbicides-Agricultural news

Monsanto Co., the world’s largest seed producer, plans to lobby Brazil’s government for higher import taxes on an herbicide from China, saying that below-cost shipments are eroding its market share.

Chinese makers of glyphosate, used to kill weeds before crops are planted, are selling the herbicide in Brazil for less than it costs to produce, a practice known as “dumping,” said Rodrigo Almeida, Monsanto’s director of corporate affairs in Brazil. Brazil taxes glyphosate imports at 2.1 percent now.

“Those below-cost imports are hurting our sales, because Brazil is a key market for us,” Almeida said in a telephone interview yesterday from Sao Paulo. Brazil, the world’s largest grower of coffee and orange juice, accounts for about 15 percent of Monsanto’s global sales of its Roundup weed killer, he said.

St. Louis-based Monsanto and rival Syngenta AG, base in Basel, Switzerland, have sought to counter below-cost imports in markets from Brazil to Europe. The European Union decided today to suspend for an extra year a 29.9 percent tariff on glyphosate from China, Taiwan and Malaysia

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Monsanto Will Lobby Brazil to Boost Tax on Chinese Herbicides

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