POLICY ON FERTILIZER TAXATION COMING IN OCTOBER

The Chamber of Foreign Trade will evaluate the plan to hike the import tariff on ammonium nitrate from 0% to 15% on October 17. If the tax is approved, importers will pay more, affecting the entire industrial process. Estimated to bring an additional BRL 63 million in income annually, the strategy advocated by the Brazilian Association of the Chemical Industry (Abiquim) is meant to boost domestic manufacturing and reduce competition from imported goods. Only 11% of domestic demand is met nationally, according to the Confederation of Agriculture and Livestock of Brazil, which attributes the low local production to a lack of raw materials, poor infrastructure, and a lack of incentive programs.
Source: Jovem Pan / Global Fert (*Translated by Ia Niani)