ANNOUNCED AS TEMPORARYNo
On 17 October 2013, the government of Brazil stated that grapes of the harvest 2012/2013 are going to be subsidized with USD 16.1million(35 million real).
The stated amount will be distributed through the Brazilian farmer income support programs PEP and PEPRO. Both programs are based on the auction mechanism further described below. The subsidies will continue until the stated volume has been allocated completely.
The programs constitute a production subsidy to Brazilian farmers. Both domestic and international sales are eligible for the subsidy.
The design of the Brazilian farmer income support programs can be briefly summarized as follows:
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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