The Brazilian Foreign Trade Commission of the Ministry of Trade (CAMEX) reduced the import duty on Brazilian biaxially oriented polypropylene (BOPP) film from 16% to 2% on October 5. According to CAMEX, the new tariff is valid for 180 days and the maximum import quota is 960 tons. The import tariff was lowered to prevent the shortage of Brazilian BOPP film.
A few days earlier, the Brazilian government had just raised the import tariffs on some resins and plastic products to protect the local plastics industry. According to the latest statistics of the Brazilian Plastics Industry Association, in the first 7 months of 2012, Brazil’s plastics exports amounted to US$792 million, a year-on-year drop of 9.34%. Imports increased by 7.6% year-on-year to US$2.03 billion, and the trade deficit further increased.
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