Brazil's Import Tax on U.S. Ethanol and Self-Producing Meat
From the Ag Information Network, I'm Bob Larson with your Agribusiness Update.
**Brazil has agreed to impose an import tax on U.S. ethanol, a move criticized by U.S. ethanol leaders.
According to Brownfield, the Renewable Fuels Association's Bob Dinneen, Growth Energy's Emily Skor, and the U.S. Grains Council's Tom Sleight issued a joint statement Wednesday saying they are disappointed to see the ruling by Brazil's Chamber of Foreign Trade to impose a 20-percent tariff on U.S. ethanol imports after a 160-million-gallon tariff rate quota.
**The European Commission is seeking more information in the proposed acquisition by Bayer of Monsanto. The commission has opened an in-depth investigation saying it is concerned about reduced competition in crop products such as pesticides, seeds and traits.
It has also raised concerns about Bayer/Monsanto dominance in digital agriculture. The European Commission has until January 8th, 2018 to make a decision, saying that an in-depth investigation "does not prejudge" the final result.
**Cargill is investing in a startup company that's developing technology to grow meat from self-producing animal cells.
The company, called Memphis Meats, claims it can produce beef, chicken and duck directly from animal cells without raising and slaughtering livestock or poultry.
In a statement provided to Bloomberg, Cargill says it believes consumers will "continue to crave meat, and we aim to bring it to the table, as sustainably and cost-effectively as we can. Cultured meats and conventionally produced meats will both play a role in meeting that demand."
Billionaires Bill Gates and Richard Branson are among the other investors in Memphis Meats.
