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Brazil cuts import duty on Chinese glyphosate
Feb. 12, 2008
Brazil is to cut the import duty it charges on the herbicide, glyphosate, from China. The new duty of 10% replaces the 35.8% charge from February 12th, the newspaper, Valor Economico, reports. Resolution 5/2003 from the chamber of foreign commerce, the CAMEX, has regulated the trade since February 2003 as an anti-dumping measure. The Ministry of Agriculture backed the ending of the duty. The CAMEX is made up of seven Ministries including the President's Ministry, the Casa Civil. Some members opposed ending the duty and at the second meeting in two weeks, the compromise was agreed. Imports of glyphosate are still charged at 12% as the common external tariff for entry into the trading bloc, the Mercosul, while its price in Brazil has risen sharply since last year.
Source: Valor Economico
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