With tax exemptions, sales of salmon hit record – 09/05/2023 – Panel SA

The well-known Chilean salmon, which is part of the diet of Brazilians with greater purchasing power, has never sold so much in Brazil. Last year, there were US$ 804 million in exports, an increase of 33% compared to 2019, the year in which the pandemic began.

This performance, however, could suffer a setback if the tax reform proposal is taken forward.

One of the proposals is to remove fish and other luxury items, such as foie gras, brie cheese and whipped cream, from the basic basket to release around R$ 1.2 billion per year in exemptions on these products for Bolsa Família beneficiaries.

As the reform runs the risk of not moving forward, the chances that sales of salmon will remain high are great.

Brazil is the third largest destination for Chilean fish sales. In 2022, there were around 100,000 tons, according to data from ProChile, an institution dedicated to promoting trade linked to the Ministry of Foreign Affairs.

With Diego Felix

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