Brazil cuts import duty on palm oil to 2% from 10% to avert supply shortage; measure will apply for 180 days
October 21, 2013
– Brazil's chamber of foreign trade Camex has cut the import duty on palm oil from 10% to 2%.
The measure will apply for 180 days, to a maximum quota of 99,332t on palm oil from the Elaeis guineensis species.
Camex said the measure is necessary to avert a supply shortage of the product in Brazil.
Palm oil is used in Brazil by the chemical industry, as well by the cleaning, personal hygiene and food sectors.
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