The European Union has decided to remove Brazil’s Generalised System of Preference (GSP) status for wood and wood based products in two stages.
The Timber Trade Federation‘s product manager Nick Boulton, who warned of the pending price rise last year, said the good news was that the increase would be spread over the coming year rather than happening immediately.
However, he said, the announcement would make the calculation of duty rates for Brazil somewhat more complex.
He explained that for goods clearing customs from Brazil after November 1 this year, GSP discount would be reduced by half. For goods clearing customs from Brazil after May 1, 2004 GSP discount would no longer apply.
