Brazil Exempts US Ethanol From Import Tax Through March 2023

Brazil’s federal government extended the import tariff exemption on US ethanol through March 2023, according to a decision from the Economy Ministry published in the official gazette on Monday.

• “This is a positive first step toward a permanent resolution and it sends a favorable signal to the marketplace,” Geoff Cooper, CEO of the US Renewable Fuels Association, says in a note
  • The group expects to work with incoming President Luiz Inacio Lula da Silva to restore free ethanol trade between both nations, he says
• Brazil government also granted import tariff exemption to dozens of products, according to the resolution

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