On March 13, 2025, Brazil’s trade chamber, known as Camex, unanimously approved the elimination of import taxes on various food products as an emergency measure to combat rising food inflation. This decision, announced by Brazilian Vice President Geraldo Alckmin, who also serves as the trade, industry, and development minister, builds on similar tax cuts implemented the previous week. The goal is to reduce food costs and ease inflationary pressures, particularly for essential items.
The tax exemptions apply to products such as boneless beef, roasted coffee, coffee beans, corn, olive oil, sugar, cookies, pasta, and sardines. These measures took effect on March 14, 2025, and will remain in place for as long as necessary to stabilize food prices, though Alckmin suggested the duration might be less than a year. The estimated cost of these exemptions, if extended for a full year, is approximately 650 million reais (about $112 million USD).
This move reflects Brazil’s broader strategy to address food inflation without resorting to price controls or fiscal interventions, relying instead on market-driven solutions and increased import access to bolster supply. The decision aligns with earlier efforts in 2025 to reduce import levies on food products cheaper abroad, aiming to benefit consumers by maintaining purchasing power amid a challenging economic climate.
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