U.S. grain and ethanol groups applauded Brazil’s announcement to delay a tariff on U.S. ethanol imports. Brazil announced this week it would impose a 30-day delay of a decision on a pending proposal to impose a 20 percent tariff on U.S. ethanol imports. The proposal would allow 500 million liters, or 132.1 million gallons, annually of U.S. ethanol imports before triggering the tariff. In a joint statement, the U.S. Grains Council, Growth Energy, and the Renewable Fuels Association said they were “encouraged” by the postponement. The groups say the proposed action on U.S. ethanol imports will go against Brazil’s longstanding view that ethanol tariffs are inappropriate and will harm the development of the global ethanol industry.
Source: NAFB News Service