Brazil to eliminate import tariffs on soybean and corn

Fighting inflation: A harvester works on a corn field in Ruropolis. Brazil’s Foreign Trade Chamber has approved a reduction in tariffs on soy and corn purchases in order to slow inflation, which rose 0.64% in September. — AFP

RIO DE JANEIRO: The Brazilian government will eliminate import tariff on soybean and corn to combat inflation in the food sector, the Ministry of Economy said.

The country’s Foreign Trade Chamber approved a reduction in tariffs on soy and corn purchases in order to slow inflation, which rose 0.64% in September, the ministry said in a statement.