ANNOUNCEMENT 26 Nov 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 961/2011. 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=1033123
On November 26, 2011, the Chilean Ministry of Public Finance passed the Exempt Decree 961 to establish new applicable discounts on customs duties on sugar for a one-month period starting on December 1, 2011. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 277.49 per tonne of raw sugar; USD 401.31 per tonne in refined sugars qualified as Grade 1 or 2; and USD 327.02 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 277.48, USD 370.23 and USD 314.58 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.