Global Trade Alert

On October 27, 2014, the Chilean Ministry of Public Finance passed the Exempt Decree 293 to establish applicable discounts on customs duties on sugar for a one-month period starting on November 1, 2014. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 88.22 per tonne of raw sugar; USD 172.57 per tonne in refined sugars qualified as Grade 1 or 2; and USD 121.93 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. Previously there were no discounts on the import tariffs for these goods.

The objective of this decree is to establish a relative margin for internal prices to fluctuate in comparison to the international market.