News

Import tax on beans lifted

23 de junho de 2016

Brasília – Brazil’s Foreign Trade Chamber (Camex) has exempted the black and carioquinha bean types from import tax, valid for 90 days. The measure was signed by minister Marcos Pereira and will be published next Friday (24) on the Official Gazette. The goal is to prevent bean prices from hiking, since growers struggled with weather issues in the first half of the year.

From May 15 to June 15, bean prices soared 16.38%, according to the EXTENDED consumer price index Índice Nacional de Preços ao Consumidor Amplo – 15 (IPCA-15). The IPCA precedes the IPCA, which is the government’s official measure of inflation. Currently, a 10% tax is levied on product from any of the Mercosur countries. The tax exemption will also apply to non-Mercosur countries.

*Translated by Gabriel Pomerancblum