From January to September this year, Brazil has already imported 528.2 thousand tons of soybeans, against 144 thousand tons in the whole of 2019. Increase of 365%. Of corn, the accumulated imports in 2020 total 725.7 thousand tons, against 1.44 million tons in 2019, practically half of the total volume that entered the country during the past year.
This Saturday, the 17th, the government announced that decided to zero the import tax rate for soybeans and corn, to contain the rise in prices in the food sector. The tariff exemption applies until January 2021, for soybeans, and until March, for corn.
In the case of soy, the exemption from the tariff is justified not only as a strategy to reduce the price on the domestic market, but also to guarantee supply.
In the case of cereal, imports well below last year suggest that there is no shortage of product, but that for some reason sales are dammed up. In the last week, the 60 kg bag of legumes reached R $ 160 and the price of corn reached R $ 70.
Over 95% of imported soy and corn come from the Paraguay. But there is also a product of Uruguay, Argentina and even the United States. Organized by Canal Rural, the data are from the Comex Stat system, from Ministry of Economy.