GECEX approves implementation of wheat quota without tariff

On November 5, the Executive Committee of the Foreign Chamber of Commerce (Gecex) approved the inclusion of an import quota of 750,000 tons of non-Mercosur wheat without tariff in the list on Letec (Common External Tariff Exception List).

With the measure, the country fulfills a promise made by President Jair Bolsonaro to American President Donald Trump. The US tends to be the main beneficiaries of the measure, but countries like Canada and Russia have already shown interest in exporting wheat to Brazil.

Meat Exports

Regarding the relationship between the two countries, this Tuesday, November 5, the United States requested additional information from the Brazilian government about Brazilian beef and established that a new inspection of the industry will have to be carried out before the eventual release of fresh product shipments to the Americans, according to information from the Ministry of Agriculture.

Brazilian fresh beef has been barred in the US for more than two years because of the detection of abscess (inflamed) fillers.

Although not confirmed, it is believed that the reopening of the US beef market is conditional on Brazil’s implementation of the quota for wheat imports. With the quota approved yesterday, the American release of beef is expected to occur soon.

Sources: Valor and Reuters

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