Brazil to Eliminate Import Taxes on Essential Food Items

The Brazilian government has decided to scrap import taxes on essential food items, including coffee and meat, to lower prices. Vice President Geraldo Alckmin announced these measures to maintain purchasing power and stimulate production. Changes in inspection rules to nationalize local standards and enhance domestic food production are also underway to benefit farmers and consumers.

The Brazilian government has announced the removal of import taxes on essential food items to alleviate consumer prices. The products affected include coffee, olive oil, sugar, corn, sunflower oil, sardines, cookies, pasta, and meat. This decision was conveyed by Vice President Geraldo Alckmin after a meeting with President Lula and various ministers aimed at addressing agricultural and economic concerns.

Vice President Alckmin emphasized that these measures aim to assist citizens in maintaining their purchasing power and acquiring basic necessities affordably. He expressed, “These are measures to reduce prices, to benefit citizens so that they can maintain their purchasing power and have their basic food basket at a better price.” The tax rates currently range from 7.2% for corn to 32% for sardines.

In parallel, the import quota for palm oil is proposed to increase from 60,000 to 150,000 metric tons. Additionally, the government is seeking to reform inspection protocols, extending the jurisdiction of Brazil’s Municipal Inspection Service (SIM) to a national level. This change would allow products regulated regionally to be sold across Brazil’s borders, impacting items such as liquid milk, honey, and eggs.

Agriculture Minister Carlos Fávaro noted the initiative’s potential to enhance opportunities for farmers. He stated, “For one year, we will apply the effects of the SIM to the entire Brazilian territory.” This plan aims to ensure consumer health safety without compromising food quality.

Moreover, the Brazilian government seeks to bolster domestic production of staple food items. According to government representatives, the National Supply Company (Conab) will invest in creating “regulatory stocks” to support subsidized products. Minister Paulo Teixeira elaborated, “We will have a set of products that will be subsidised to offer to Brazilian society, focusing on the basic food basket.”

In conclusion, Brazil’s initiative to eliminate import taxes on essential food items aims to improve affordability and quality of life for its citizens. By enhancing its regulatory framework and focusing on domestic production, the government is working to create a more favorable environment for both consumers and farmers. Overall, these reforms reflect a strategic plan to stimulate economic growth while ensuring food security.

Original Source: www.just-food.com