By Ana Mano<\/p>\n
SAO PAULO (Reuters) -China has approved 183 new Brazilian coffee companies to export products to the Chinese market, according to a social media post of the Chinese embassy in Brazil on Saturday.<\/p>\n
The measure, a boon to local exporters after the United States government’s announcement of steep tariffs on Brazilian coffee and other products, took effect on July 30.<\/p>\n
The new Chinese export permits are valid for five years, according to the post.<\/p>\n
The U.S.’s 50% tariff on some Brazilian products will begin on August 6.<\/p>\n
The levy represents a challenge for commodities traders and Brazilian coffee exporters, who need to find alternatives for the roughly 8 million bags sold to U.S. coffee processors every year.<\/p>\n
China is Brazil’s top trade partner overall while the U.S. is a big buyer of Brazilian beef and orange juice, among other products.<\/p>\n
In June, Brazilian coffee exports into the U.S. totaled 440,034 60-kilo bags, 7,87 times more than Brazil’s sales into China of nearly 56,000 bags that month, according to trade data compiled by industry lobby Cecafe.<\/p>\n
The Brazilian ministry of agriculture and Cecafe did not have an immediate comment.<\/p>\n
China’s customs authority could not be immediately reached as it was outside the business hours.<\/p>\n
Brazil supplies about a third of the U.S. coffee demand each year, a trade valued at $4.4 billion in the 12 months ended in June.<\/p>\n
(Reporting by Ana Mano in Sao Paulo and additional reporting by Ella Cao in Beijing; Editing by Nick Zieminski)<\/p>\n","protected":false},"excerpt":{"rendered":"By Ana Mano SAO PAULO (Reuters) -China has approved 183 new Brazilian coffee companies to export products to…\n","protected":false},"author":2,"featured_media":55517,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[23,941,42020,144,42021,17246,3,21,19,22,20,25,24],"class_list":["post-55516","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-states","tag-america","tag-brazil","tag-brazilian-products","tag-china","tag-chinese-embassy","tag-chinese-market","tag-news","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/55516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=55516"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/55516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/55517"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=55516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=55516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=55516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}