ANNOUNCEMENT 27 Feb 2017
The Chilean Government has modified the applicable reductions on the import tariffs of raw sugar and refined sugar.
NUMBER OF INTERVENTIONS
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 53/2017. Aplica rebajas de derechos de aduana para la importación de azúcar cruda, azúcar refinada grados 1 y 2, y azúcar refinada grados 3 y 4, y subestándares.
On February 27, 2017, the Chilean Ministry of Public Finance passed the Exempt Decree 53 to establish new applicable discounts on customs duties on sugar for a one-month period starting on March 1, 2017. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 205.86 per tonne of raw sugar; USD 298.19 per tonne in refined sugars qualified as Grade 1 or 2; and USD 242.79 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 182.28, USD 277.46 and USD 220.34 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.