Uncategorized

Brazil approves quota, 20 percent tax on ethanol imports

 Brazil’s government on Wednesday approved taxing ethanol imports for the first time in a move to protect local producers from growing shipments coming from the United States.

Brazil’s Agriculture Ministry said the country’s foreign trade chamber, known as Camex, approved a 20-percent tax on ethanol imports, which would be levied only after a tax-free quota of 600 million liters per year is surpassed.

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