Chinese import tax not so sweet for Brazil

Datamar, Brazillian foreign trade and maritime consulting business, reported last week that Brazilian exports of sugar to China may decrease by as much as 800,000 tons over the next 12 months. This is due to an unprecedented increase on the import tax of the commodity from 50% to 95%.

Q1 Brazilian sugar exports to China (2014-2017)

Source: DataLiner

Whilst this market appears to be shrinking, according to data from Dataliner, exports of Brazilian petroleum and associated products grew by 76% in the first quarter of 2017, with 7.3m tons shipped during this period compared to 4.1m tons last year.