By Ana Mano
China has approved 183 new Brazilian coffee companies to export products to the Chinese market, according to a social media post of the Chinese embassy in Brazil.
The measure, a boon to local exporters after the United States government’s announcement of steep tariffs on Brazilian coffee and other products, took effect on July 30.
The new Chinese export permits are valid for five years, according to the post.
The U.S.’s 50% tariff on some Brazilian products will begin on August 6.
The levy represents a challenge for commodities traders and Brazilian coffee exporters, who need to find alternatives for the roughly 8 million bags sold to U.S. coffee processors every year.
China is Brazil’s top trade partner overall while the U.S. is a big buyer of Brazilian beef and orange juice, among other products.
In June, Brazilian coffee exports into the U.S. totaled 440,034 60-kilo bags, 7,87 times more than Brazil’s sales
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.
Subscribe nowNeed help? molokom@insidepolitic.co.za
