March 4, 2024

China drops import tariff on Brazilian poultry products

China has decided not to renew a tariff on imports of poultry products from Brazil, as confirmed by the South American nation, Reuters reported.

In 2019, China imposed a tariff ranging from 17.8% to 34.2% on Brazilian poultry imports to counteract "dumping," an industry practice where foreign markets are flooded with cheaper products.

Brazil's foreign ministry stated that over a dozen Brazilian companies had agreed to "price commitments" with the Chinese government to maintain prices above a certain threshold.

These measures were deemed detrimental to the competitiveness of Brazilian products in the Chinese market.

As of February 17, 2024, the import tariff on Brazilian poultry has returned to zero, announced Brazilian President Luiz Inacio Lula da Silva.

The expiration of the tariff was confirmed by the Brazilian ministry, highlighting that this change will enhance the competitiveness of Brazilian poultry exports to China and create opportunities for new players in the market.

President Lula expressed optimism that this decision would lead to increased exports, contributing to revenue and development in Brazil.

Brazil holds the title of the world's largest poultry exporter, while China stands as the second-largest consumer of poultry globally and the leading importer of Brazilian poultry.

-      Reuters