ANNOUNCED AS TEMPORARYYes
On August 13, 2011, the Chilean Ministry of Public Finance passed the Exempt Decree 695 to establish new applicable discounts on customs duties on wheat and wheat or meslin flour for a two-month period starting on August 16, 2011. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 142.21 per tonne of wheat and USD 221.85 per tonne of wheat or meslin flour. The previously applicable discounts were USD 181.10 and USD 282.52 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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