Brazil's government has announced a plan to eliminate import taxes on essential food and beverage items. This initiative aims to reduce prices for citizens and support local production. The decision was made by Vice President Geraldo Alckmin after a meeting with various ministers, including President Lula. The list of products affected includes coffee, sugar, olive oil, and more. The government hopes these changes will help maintain citizens' purchasing power while stimulating the economy.
• The import tax rates on essential foods range from 7.2% to 32%.
• The import quota for palm oil will increase from 60,000 to 150,000 metric tons.
• Changes to inspection rules will allow local products to be sold nationwide.
• The government plans to invest in regulatory stocks to support farmers.
This move is significant as it addresses food affordability and encourages local agriculture. By reducing costs, the government aims to enhance food security and support the economy during challenging times.
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