The Brazilian Government set the criteria for the allocation of the rice import quota, through the Ordinance No. 50.
The regulations, published this Friday in the Official Gazette of the Federation, indicate that each company will initially have a maximum quota of 34 thousand tons of product. The Chamber of Foreign Trade (Camex) released a total of 400 thousand tons, with zero import tax for non-parboiled, polished or burnished rice.
According to the ordinance, once the maximum amount initially established has been reached, new concessions for the same company will be conditional on the release of the goods for consumption. And the amount released will be, at most, equal to the amount already settled.
The exemption is valid until December 31 this yearAccording to the decree, if the global quota is exhausted, no new import licenses will be issued.
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