São Paulo – The Brazilian Ministry of Development, Industry and Foreign Trade informed that its policymaking body, the Foreign Trade Chamber (Camex), has decided to lower the aliquots of the Import Tax on frozen sardines, palm kernel, and thick carbon steel sheets. The resolution was published on the Official Gazette this Thursday (18th). The goal is to prevent an undersupply of these products.
The tax on frozen sardine imports has been lowered from 10% to 2% for a 12-month period. The benefit applies to a maximum quota of 50,000 tonnes. The Camex had already issued a similar ruling in August, but it remained valid for a period of 180 days.
From January to September, Brazil imported 34,660 tonnes of sardine, valued at US$ 30.5 million. In the same period of 2011 no imports took place. The measure is intended to ensure a supply during the period in which sardine fishing on the Brazilian coast is banned, according to the ministry.
Morocco is the leading supplier of sardines to the Brazilian market. From January to September the country shipped the equivalent of US$ 13.6 million in fisheries to Brazil, according to ministry figures. Oman, another Arab nation, ranks fourth among the top exporters to Brazil, having exported the equivalent of US$ 2.27 million during the same period. Other significant suppliers are Lithuania and Netherlands.
The same tariff and deadline applies to palm kernel oil, up to a maximum quota of 223,365 tonnes. Brazilian imports amounted to 120,800 tonnes from January to September, down 4.19% from the same period in 2011. Imports amounted to US$ 154 million, down 34% from the same period of the previous year. The leading exporters to the Brazilian market are Indonesia, Malaysia, Singapore and Colombia.
In the latter case, the benefit has been granted because domestic output does not suffice to meet demand. The oil is used as an input in the manufacturing of personal hygiene products, chemicals, cleaning products and foodstuffs.
The tax on imports of thick carbon steel sheets has been lowered from 12% to 2% for four months, up to a maximum quota of 8,000 tonnes. Measures and technical specifications for the processed product have been set forth by the Camex and are available at www.camex.gov.br/noticias/ler/item/259.
According to the Brazilian Ministry of Development, Industry and Foreign Trade, corrosion-resistant sheets which meet the specs are not made in Brazil, and are used in the manufacturing of gas transport pipes. From January to September, 221,000 tonnes of the item were imported, up 11.5% from the same period of last year. Imports amounted to US$ 214 million, up 14.5% using the same basis of comparison. The leading suppliers were Austria, China, Ukraine, South Korea, Germany, Belgium and France.
*Translated by Gabriel Pomerancblum
