ANNOUNCEMENT 30 Apr 2014
The Chilean Government announced new reductions on the import tariffs on raw and refined sugar.
NUMBER OF INTERVENTIONS
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 123/2014. 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=1061665
On April 30, 2014, the Chilean Ministry of Public Finance passed the Exempt Decree 123 to establish new applicable discounts on customs duties on sugar for a one-month period starting on May 1, 2014. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 125.95 per tonne of raw sugar; USD 208.54 per tonne in refined sugars qualified as Grade 1 or 2; and USD 158.99 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 132.21, USD 224.11 and USD 168.97 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.