Brazil mulls agchem tariff cut
Brazil’s Minister of Farming Guido Mantega says that he intends to cut agrochemical import duties, newswire Agroling reports. The reduction would run for 12 months as a means of containing inflation in the country. The move would run counter to the protectionist tendencies of the Brazilian government, Agrolink comments. “The [value of the US] dollar is fluctuating and at the moment it is high, creating a natural defence [against imports] for this type of input,” he reportedly says. The lowering of quotas is likely to depend on the value of the dollar, the Minister adds. Mr Mantega raised tariffs last year against fertilisers and other agricultural chemicals supposedly to stimulate demand for national products, the newswire notes. “We will monitor the dollar [exchange rate] until September before setting tariffs,” the Minister adds.