GOVERNMENT ZEROES IMPORT TAX ON RICE UNTIL 2021

On Wednesday, September 9, the Executive Management Committee (GECEX) of the Chamber of Foreign Trade (CAMEX) decided to eliminate the import tax on paddy and processed rice until the end of this year.

The temporary reduction of rice import tax is restricted to the quota of 400,000 tons, applicable to products covered by Mercosul Common Nomenclature (NCM) codes 1006.10.92 (rice with non-parboiled husks) and 1006.30.21 (semi-bleached or blanched rice, not parboiled).  The decision was made during the 8th Extraordinary Meeting of GECEX, as proposed by the Ministry of Agriculture and Food Supplies (MAPA).

On Tuesday, Sept. 8^th, Minister Tereza Cristina had announced her request to GECEX and stated that there will be no shortage of rice in the country. According to the MAPA’s National Food Supply Company (CONAB), the estimated rice production for the next harvest (2020/21) is 12 million tons, an increase of 7.2% in relation to the previous harvest.

GECEX is the collegiate executive nucleus of CAMEX, and is responsible for defining import and export rates, establishing trade defense measures, and internalizing rules of origin of commercial agreements, etc.  It is made up of the Presidency of the Republic and the Ministries of Economy, Foreign Affairs, and Agriculture and Food Supplies.

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