China grants tax exemption to 14 Brazilian chicken meat export companies
The list of companies was excluded from taxes as part of a “price commitment” agreed between the two sides.
The exemptions are the result of months of negotiations between Brazilian poultry producers and China to resolve restrictions in place since 2017.
China has moved to charge taxes of between 17.8% and 32.4% on all Chinese imports of Brazilian chicken meat over the next five years.
Brazil is the world’s largest meat exporter and the largest foreign supplier to the Chinese market.
The decision came after Chinese chicken prices hit records as domestic supplies rose.
China has banned imports of breeding birds from many major suppliers because of outbreaks of bird flu. ■