08 April 2013 23:17 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Brazil’s chamber of foreign trade (Camex) said on Monday that it has temporarily cut the import tariff on methanol from 12% to zero with immediate effect.
The new tariff is valid for 180 days and is limited to maximum shipments of 560,000 tonnes, Camex said. The measure was taken because a “situation of supply shortage still persists”.
A resolution passed by South American trading block Mercosur allows member countries to temporarily reduce import tariffs to guarantee product supply, Camex said.
According to the country’s Ministry of Development, Industry and Foreign Trade (MDIC), the value of Brazilian methanol imports reached $248m (€191m) in 2012.
In August, state-run oil company Petrobras awarded Foster Wheeler a contract for the engineering of a gas-to-chemicals complex in Linhares in southeast ?xml:namespace>
According to Petrobras, the complex will reduce
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