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 discount for refined sugars qualified as Grades 1 and 2 was USD 337.22 per tonne. The previously applicable discount was USD 347.61 per tonne.
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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