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- (-) March 2023
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In 2022, the Government of Ecuador continued to support floor prices for local production of corn, rice, and wheat as well as began subsidizing the price of fertilizers for small producers.
Ecuador’s National Customs Service (SENAE) announced on February 2, 2023, that Distiller’s Dried Grains with Solubles (DDGS) will no longer be subject to a 12 percent value added tax.
Despite continued economic constraints, U.S. – Ecuador bilateral agricultural and related product trade rose to $4.5 billion in 2022. In addition, U.S. agricultural and related product exports to Ecuador reached a record $741 million.
Uncertainty of government corn policies and price support mechanisms contributed to decreased production with farmers retiring or shifting to more profitable crops.
Ecuador extended its tariff exemption for soybean meal and wheat imports from all origins for five years, effective January 1, 2020.