Brazil extends US ethanol tariff for 90 days
Brazil has extended its tariff-rate quota allowing duty-free entry of US ethanol for 90 days. This extension comes after it expired on August 31 and a 20 percent tariff was temporarily applied.
In a joint statement, biofuel and agriculture leaders say the extension comes at a time when US ethanol exports to Brazil are traditionally low, causing greater uncertainty for US exporters looking to make selling decisions now for the traditionally higher Brazilian demand in winter months.
The leaders say they view the extension as an opportunity for continued discussions and will “aggressively pursue an open and mutually beneficial ethanol trading relationship with Brazil.”
The statement is from Renewable Fuels Association President and CEO Geoff Cooper, Growth Energy CEO Emily Skor, US Grains Council President and CEO Ryan LeGrand, and National Corn Growers Association CEO Jon Doggett.