- July 24, 2020
- Posted by: admin
- Category: Trade Solutions
Import duties on sugar have increased today, 24 March 2020. The latest duty increase comes three months after the duties had decreased in March 2020.
The International Trade Administration Commission (ITAC) uses a dollar-based reference price (DBRP) formula to determine the import duties on sugar, wheat, and maize (currently duty-free). This variable system essentially sets a floor price on imported sugar by increasing the duty when the world price is low and reducing the duty when the world price is high.
|Tariff code||Description||New duty||Previous duty|
|1701.13||Cane sugar specified in Subheading Note 2 to this Chapter||527,75c/kg||418,61c/kg|
|1701.14||Other cane sugar||527,75c/kg||418,61c/kg|
|1701.91||Containing added flavouring or colouring matter||527,75c/kg||418,61c/kg|