ANNOUNCED AS TEMPORARYYes
On February 27, 2017, the Chilean Ministry of Public Finance passed the Exempt Decree 53 to establish new applicable discounts on customs duties on sugar for a one-month period starting on March 1, 2017. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 205.86 per tonne of raw sugar; USD 298.19 per tonne in refined sugars qualified as Grade 1 or 2; and USD 242.79 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 182.28, USD 277.46 and USD 220.34 per tonne respectively.
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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