ANNOUNCED AS TEMPORARYYes
On May 27, 2017, the Ministry of Public Finance of Chile issued the Exempt Decree 193 establishing new applicable discounts on customs duties on sugar for a one-month period starting on June 1, 2017. The new law established different reductions on the ad valorem customs duties. The applicable discounts set were USD 96.32 per tonne of raw sugar; USD 207.42 per tonne for refined sugars qualified as Grade 1 or 2; and USD 140.77 per tonne for refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 124.56, USD 237.63 and USD 169.78 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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