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LONDON SUGAR

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Bolsonaro says U.S. to give Brazil extra sugar import quota

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09/21/2020 | 04:39pm EDT

BRASILIA/NEW YORK, Sept 21 (Reuters) - The United States will expand a quota for Brazilian sugar to be imported at a lower tax rate by 80,000 tonnes, in exchange for South America's largest country opening to more U.S. ethanol, Brazil's President Jair Bolsonaro said on Monday.

The Office of the U.S. Trade Representative did not respond to a request for comment.

Bolsonaro's remark on Twitter comes after Brazil on Sept. 11 said it would extend a tariff-free quota for U.S. ethanol by three months.

"The U.S. Trade Representative (USTR) said today... that Brazil would receive an additional quota of 80,000 tonnes of sugar in the American market," Bolsonaro said.

"It is the first result of recently opened Brazil-US talks regarding the sugar and ethanol sectors."

The post said the quota would increase to 310,000 tonnes from 230,000 tonnes previously. (Reporting by Lisandra Paraguassu in Brasilia and Marcelo Teixeira in New York; writing by Jake Spring; Editing by Dan Grebler)


Stocks mentioned in the article
ChangeLast1st jan.
CBOT ETHANOL FUTURE (EH) - CBR (FLOOR)/C1 0.83% 1.09 End-of-day quote.-20.73%
EURO / BRAZILIAN REAL (EUR/BRL) 0.81% 6.6639 Delayed Quote.47.61%
REMARK HOLDINGS, INC. 40.27% 1.585 Delayed Quote.207.77%
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