IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 24 Oct 2016 | Removal date: open ended
Still in force

Import tariff

On 24 October 2016, the Ministry of Commerce, Industry and Tourism of Colombia issued Decree 1687 eliminating peanuts (HS Code 1202.42.00) from the Andean Price Band System. This decision led to the elimination of the variable import duty established on this good and leaving the fixed import tariff of 15%.

Andean Price Band System

The Andean Price Band System (i.e. Sistema Andino de Franja de Precios) is a mechanism adopted by Decision 371 of the Andean Community that aims at stabilizing the import cost of a special group of agricultural products characterized by marked instability in its international prices.

Stabilization is achieved by increasing the ad valorem tariff when the international price is below the floor level and lowering the tariff to zero when the price is above the ceiling. That is, the price band is equivalent to converting the tariff into a variable factor that is automatically adjusted to counteract external fluctuations in the international price.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

214 Prepared & preserved fruits & nuts
1202 Groundnuts, not roasted or otherwise cooked, whether or not shelled or broken.
120242 Shelled, whether or not broken

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