ANNOUNCEMENT 28 Jul 2012
The Chilean Government announced new applicable reductions on the import tariffs of raw sugar and refined sugar.
NUMBER OF INTERVENTIONS
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 709/2012. 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=1042217
On July 28, 2012, the Chilean Ministry of Public Finance passed the Exempt Decree 709 to establish new applicable discounts on customs duties on sugar for a one-month period starting on August 1, 2012. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 194.96 per tonne of raw sugar; USD 347.61 per tonne in refined sugars qualified as Grade 1 or 2; and USD 256.01 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. During the previous month, there were no applicable discounts.
The objective of this decree is to establish a relative margin for internal prices to fluctuate in comparison to the international market.