Brazil: Cut in import tax on rice, beans and meat does not impact prices, experts say
Frozen Bone-In Beef
Dried Common Bean
Rice
Brazil
Published May 31, 2022
Original content
The new 10% reduction in import tariffs for rice, beans and beef, announced last Monday, will not affect consumer prices, say experts and associations consulted by the g1. In November last year, the government had already made a cut of the same magnitude, which resulted in a total decrease of 20% in import duties on more than 6,000 items by December 2023. Tariffs for three products had the following reductions : beans: from 10% to 8%; rice: from 12% and 10% to 9.6% and 8% – depending on the varieties; beef: from 12% and 10% to 9.6% and 8% – depending on the cuts. The reduction in rates is intended to combat the escalation of inflation, however, in addition to being small, the external supply of these foods is restricted at the moment and Brazil already has a production capable of supplying the domestic market, according to experts. For each food, the scenario is as follows: In the case of beans, Brazil has nowhere to import the carioca type – which is the most consumed and ...
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