ANNOUNCED AS TEMPORARYYes
On August 28, 2013, the Chilean Ministry of Public Finance passed the Exempt Decree 273 to establish new applicable discounts on customs duties on sugar for a one-month period starting on September 1, 2013. The new law established different reductions on the ad valorem customs duties. The applicable discounts per tonne in refined sugars qualified as Grade 1 or 2 was USD 222.28 whereas per tonne in refined sugars qualified as Grade 3, 4 and other substandard was USD 147.03. The previously applicable discounts were USD 233.30 and USD 149.74 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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