Brazil holds off decision on ethanol import tariff another 30 days and eyes quota

In Brazil, the country’s foreign trade chamber has delayed yet again the decision whether to rescind the waiver on import taxes lobbed against ethanol, this time for 30 days. The chamber’s representatives from eight ministries may decide on an potential 500,000 metric ton annual import quota with out of quota imports fetching 20% duty instead of reverting to import duties on their own because they could not come to a decision. The Brazilian ethanol industry is seeking a 17% duty to stem the huge increase in imports seen this year.