ANNOUNCED AS TEMPORARYYes
On October 15, 2016, the Chilean Ministry of Public Finance passed the Exempt Decree 348 to establish new applicable discounts on customs duties on wheat and wheat or meslin flour for a two-month period starting on October 16, 2016. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 53.04 per tonne of wheat and USD 82.75 per tonne of wheat or meslin flour. The previously applicable discounts were USD 45.27 and USD 70.63 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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