ANNOUNCEMENT 29 Sep 2011
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 793/2011. 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. http://www.leychile.cl/Navegar?idNorma=1030267
On September 29, 2011, the Chilean Ministry of Public Finance passed the Exempt Decree 793 to establish new applicable discounts on customs duties on sugar for a one-month period starting on October 1, 2011. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 358.56 per tonne of raw sugar; USD 480.74 per tonne in refined sugars qualified as Grade 1 or 2; and USD 407.43 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 342.59, USD 471.91 and USD 394.32 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.