ANNOUNCEMENT 28 Mar 2015
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 80/2015. 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=1075783
On March 28, 2015, the Chilean Ministry of Public Finance passed the Exempt Decree 80 to establish new applicable discounts on customs duties on sugar for a one-month period starting on April 1, 2015. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 47.99 per tonne of raw sugar; USD 124.33 per tonne of refined sugars qualified as Grade 1 or 2; and USD 78.52 per tonne of refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 75.63, USD 137.65 and USD 100.45 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.