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Brazil lifted taxes on wheat imports

10 July 20141 min reading
Brazil has lifted the taxes on wheat imports temporarily due to the drought and decreasing stocks. Drought has also hit Brazil. The country decided to lift the taxes on wheat imports temporarily due to the drought and decreasing stocks. Realizing an important part of the wheat imports from Argentina, Brazil is stated to turn to new suppliers by obligation as Argentina has experienced a dry year. The tax allowance for wheat will continue till 15 August but 1 million-ton quota has been brought in order that imports would not reach very high amounts. According to the news from Cihan Haber Ajansi; Turkish wheat producers and flour suppliers made some negotiations by coming to the country and agreed with the authorized institutions on the prices for the entry of Turkish wheat into Brazil. With this decision by the Brazilian government, more producers are expected to enter Brazil.
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