ANNOUNCEMENT 24 Feb 2014
The Chilean Government has modified the applicable reductions on the import tariffs on raw and refined sugar.
NUMBER OF INTERVENTIONS
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 67/2014. 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=1059695
On February 24, 2014, the Chilean Ministry of Public Finance passed the Exempt Decree 67 to establish new applicable discounts on customs duties on sugar for a one-month period starting on March 1, 2014. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 85.84 per tonne of raw sugar; USD 174.14 per tonne in refined sugars qualified as Grade 1 or 2; and USD 121.16 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 99.68, USD 188.85 and USD 135.35 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.