EU adjusts sugar quota for Brazil now that UK is not in the EU

摘要

Brazil and the European Union (EU) have concluded a bilateral agreement whereby low-tariff quotas for several agricultural products, including sugar, have been recalibrated following United Kingdom's exit from the EU, reported Valor Economico. Under the agreement, the bloc will reduce quotas, but, in return, the UK will open others proportionally, thus preserving export opportunities for both markets. Brazil has several specific quotas in the EU for sugar, chicken, beef, and turkey. Mercosur, however, represents a marginal market for Brazilian mills. Valor has learned that the quota specifically intended for Brazilian sugar, currently at 388,120 tonnes, will be reduced to 341,550 tonnes. UK is expected to shoulder the amount that the EU quota has been reduced by.