ANNOUNCED AS TEMPORARYYes
On December 15, 2011, the Chilean Ministry of Public Finance passed the Exempt Decree 1047 to establish new applicable discounts on customs duties on wheat and wheat or meslin flour for a two-month period starting on December 16, 2011. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 87.38 per tonne of wheat and USD 136.31 per tonne of wheat or meslin flour. The previously applicable discounts were USD 126.63 and USD 197.54 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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