Russia extends quotas for imports of Brazilian beef, poultry

Russia’s government has renewed a quota for imports of beef and chicken meat with lower tariffs from Brazil effective Jan. 1, the South American country’s agriculture ministry said on Friday.

Russia will allow 570,000 metric tons of Brazilian beef to enter the country with taxes reduced to 15% from 50%, while a tax-free quota of 364,000 tons was granted for poultry shipments.

The Brazilian government said it was “pleased” by the decision as it looks to strengthen trade ties with Russia, noting beef and poultry exports to that country continued to grow in 2023 after reaching $278 million last year.

Brazil is the world’s largest exporter of beef and chicken meat. Russia is a key supplier of farm inputs like fertilizers to Brazil.

The South American country added that the Eurasian Economic Union (EEU) had also announced import quotas for 124,500 tons of Brazilian beef with no taxes, including 100,000 tons for the Russian market and the remaining for four other countries (Belarus, Armenia, Kazakhstan and Kyrgyzstan).

That quota will last from Jan. 1 to Dec. 31, 2024.

“In addition to the quotas already announced, more measures are being discussed,” the Brazilian ministry said, adding Russia was studying a tax-free quota to import 1.2 billion eggs from Brazil in the first half of 2024.

“The Brazilian government will keep working to strengthen the commercial relationship with Russia and the EEU in order to guarantee expanded access to those markets for Brazilian agricultural products,” it added.

@Reuters