Jan 3, 2023
The government of Brazil on Dec. 23 announced it will extend its suspension of the import tariff on ethanol through at least the end of January. The Renewable Fuels Association is calling the extension “a positive first step toward a permanent resolution.”
Brazil in March 2022 announced that it would waive its import tariff on ethanol through the end of 2022 in an effort to alleviate inflationary pressures resulting from the pandemic, which were further aggravated by Russia’s invasion of Ukraine. That tariff was previously set at 18 percent.
“We are pleased that the Brazilian government has extended the suspension of its import tariff on ethanol,” said Geoff Cooper, president and CEO of the RFA. “This is a positive first step toward a permanent resolution and it sends a favorable signal to the marketplace. As we look ahead to 2023, we stand ready to work with incoming President Lula da Silva and his administration to restore free and fair ethanol trade between our nations. As the world’s leaders in the production and use of low-carbon ethanol, we must set an example of free trade and open markets for other nations to follow.”
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