Brazil to alter Chinese glyphosate duty - correction
The Brazilian import duty on Chinese herbicide glyphosate will not be $3.60 per kg as previously reported in Agrow ( Agrow No 586, p 16). Brazilian Ministers making up the chamber of foreign trade, the CAMEX, have met to consider a new duty, deciding to replace the current 2.1% charge on the price with a 2.1% duty on an index price of $3.60 per kg, an industry source confirms. That amounts to a flat fee of around $0.08 per kg on any price up to $3.60 per kg. For any price above that, the duty of 2.1% would be charged on the actual price. The decision is not yet official, but would likely be effective immediately after ratification, the generic industry association, the Aenda, told Agrow. There is a duty for imports into the South American trading bloc, Mercosur, of which Brazil is a member state. That is 12% and would also be payable at the same index price, resulting in a full duty of 14.1% on at least $3.60 per kg.