ANNOUNCED AS TEMPORARYYes
On August 27, 2012, the Chilean Ministry of Public Finance passed the Exempt Decree 781 to establish new applicable discounts on customs duties on sugar for a one-month period starting on September 1, 2012. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 207.12 per tonne of raw sugar and USD 259.16 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 194.96 and USD 256.01 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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