ANNOUNCEMENT 29 Jun 2017
The Chilean Government reduced the applicable discounts on the import tariffs applied to raw and refined sugar.
NUMBER OF INTERVENTIONS
Public Finance Ministry. Ministerio de Hacienda. Decreto Exento 242/2017. 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. https://www.leychile.cl/Navegar?idNorma=1104623
On June 29, 2017, the Ministry of Public Finance of Chile issued the Exempt Decree 242 establishing new applicable discounts on customs duties on sugar for a one-month period starting on July 1, 2017. The new law established different reductions on the ad valorem customs duties. The applicable discounts set were USD 72.53 per tonne of raw sugar; USD 182.88 per tonne for refined sugars qualified as Grade 1 or 2; and USD 116.66 per tonne for refined sugars qualified as Grade 3, 4 and other substandard. The previously applicable discounts were USD 96.32, USD 207.42 and USD 140.77 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.