Reported 6 months ago
A surprise tax change signed by President Luiz Inacio Lula da Silva in Brazil is causing chaos in the country's agriculture sector. The new policy, if approved by Congress, threatens to increase costs for commodity exporters and processors, impacting companies like Cargill Inc. and Bunge Global SA. The measure has drawn criticism from industry groups and may lead to significant financial losses across various sectors, with immediate pushback from industry caucuses urging rejection of the rule.
Source: YAHOO