Brazil’s ethanol import quota and tax comes into effect

In Brazil, the 20% import tax on ethanol imports above 600 million liters per year or 150 million liters per quarter came into effect on Friday, and are set to last for two years. The Brazilian government had long sought to create a global market for ethanol trade so was against such protections but the impacts on the industry in the north-northeast of the country from a flood of US ethanol imports forced its hand.