BRASÍLIA: Brazil’s government decided on Tuesday to eliminate an import tax on corn shipments from countries outside the Mercosur trade bloc amid tight local supplies.
According to Brazil’s trading chamber Camex, corn shipments would be exempt from the tax that varies from 8 to 10 percent for a period of six months, up to a maximum amount of 1 million tonnes. Countries inside the Mercosur already enjoy tax-free conditions in corn trade.