ANNOUNCED AS TEMPORARYYes
On January 29, 2016, the Chilean Ministry of Public Finance passed the Exempt Decree 18 to reduce customs duties on sugar for a one-month period starting on February 1, 2016. The new law established different cuts on the ad valorem customs duties. The applicable reduction for raw sugar was USD 70.63 per tonne, while the previously applicable discount was USD 76.39 per tonne.
The objective of this decree is to establish a relative margin for internal prices to fluctuate in comparison to the international market.
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