ANNOUNCEMENT 26 Sep 2015
The Chilean Government announced new reductions on the import tariffs on refined sugar.
NUMBER OF INTERVENTIONS
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 292/2015. 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=1082167
On September 26, 2015, the Chilean Ministry of Public Finance passed the Exempt Decree 292 to establish new applicable discounts on customs duties on sugar for a one-month period starting on October 1, 2015. The new law established different reductions on the ad valorem customs duties. The applicable discounts were USD 87.58 per tonne in refined sugars qualified as Grade 1 or 2 and USD 23.67 per tonne in refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 96.61 and USD 29.70 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.