BRASÍLIA: The Brazilian Ministry of Agriculture announced this Tuesday that it will request an exemption of the import taxes from corn produced outside of the Mercosur bloc, including U.S. corn.
According to Minister Kátia Abreu, the exemption would last six to eight months due to the current shortage in Southern Brazil. The ministry evaluates that this deadline is enough to “balance the market”. Prices are high at the domestic market due to strong exports and less summer corn production. The Brazilian Agriculture Ministry wants to reduce the risks for the poultry and hog industries.
