ANNOUNCED AS TEMPORARYYes
On November 28, 2012, the Chilean Ministry of Public Finance passed the Exempt Decree 1041 to establish new applicable discounts on customs duties on sugar for a one-month period starting on December 1, 2012. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 144.15 per tonne of raw sugar; USD 261.60 per tonne in refined sugars qualified as Grade 1 or 2; and USD 191.13 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 163.61, USD 298.92 and USD 217.73 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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