EU-Mercosur agreement will not increase Brazilian sugar exports to the EU
The EU-Mercosur agreement is not expected to increase Brazilian sugar exports to the European Union, Rabobank reports.
The agreement, which must be approved by EU members and the EU Parliament, establishes a duty-free quota for the supply of 180 thousand tons of Brazilian sugar to the European Union.
According to Rabobank’s latest report on sugar and alcohol, this zero-tariff quota will replace part of the existing annual export quota of 350 thousand tons of sugar granted by the EU to Brazil with a tariff of 98 euros/t (102.2 dollars).
“This will increase the competitiveness of the new quota, but will not lead to an increase in imports,” the analyst said in a report published on December 20.
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