ANNOUNCED AS TEMPORARYYes
On January 28, 2013, the Chilean Ministry of Public Finance passed the Exempt Decree 20 to establish new applicable discounts on customs duties on sugar for a one-month period starting on February 1, 2013. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 154.40 per tonne of raw sugar and USD 194.14 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 157.35 and USD 195.21 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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