An agreement closed between the two countries establishes a 30% tariff for the import of the product from Brazil. In addition, the importer also needs to pay a 12% tax, equivalent to the Tax on Circulation of Goods and Services (ICMS).
According to the Ministry of Agriculture, the opening began when the Indian government authorized the import of Brazilian bovine embryos “in vitro”. This also occurs at a time when Brazilian agribusiness sales to the Asian country grew 114% from January to August this year compared to the same period last year.
The Brazilian Animal Protein Association (ABPA) celebrated the opening of the Indian market for Brazilian pork.
Home to the second largest population in the world, India is undergoing a process of urbanization, making the country one of the most attractive markets for the pork protein sector.
Source: Government of Brazil