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.

(c) 2006 BNamericas.com

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.