Brazilian aquaculture producers are urging the government of far right president Jair Bolsonaro to suspend two of a myriad of taxes imposed on businesses in the South American nation to help ease the pressure from fast rising soy and corn prices in international markets.

The commodities are used to varying degrees as aquafeed ingredients.

Aquafeed costs account for as much as 70 percent of aquaculture's costs, and Brazil's tilapia and native species industries are no exception.

In the past year the cost of soy has risen 75 percent, while corn has doubled, according to numbers from the Center for Applied Economic Research/University of Sao Paulo cited by trade aquaculture producers body Peixe BR.