Ministry of Economy and Finance in Peru updated reference prices to import corn, rice, sugar and milk

Published Nov 28, 2022

Tridge summary

The Ministry of Economy and Finance (MEF) of Peru has set the reference prices and additional variable duties for imports of corn, sugar, rice, and milk whole powder. The reference price for corn is 365 dollars per MT, with an additional variable duty of -123 dollars. Sugar's reference price is 539 dollars per MT, with an additional variable duty of -99 dollars. Rice's reference price is 545 dollars, with additional variable duties of 47 dollars for paddy rice and 67 dollars for milled rice. The reference price for whole milk powder is 4,733 dollars per MT, with a payment for additional variable duty of -325 dollars. This policy is known as the Price Band and is used to stabilize import costs and domestic prices of these agricultural products.

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Original content

On November 26, through Vice Ministerial Resolution No. 011-2022-EF/15.01, the Ministry of Economy and Finance (MEF) approved the reference prices and additional variable duties applicable to imports of corn, sugar, rice and milk whole powder. According to the regulation, the reference price for corn will be 365 dollars per MT, while the additional variable duty will be -123 dollars. For its part, the reference price for sugar imports will be 539 dollars per MT and the additional variable duty is -99 dollars. In the case of rice, the reference price is 545 dollars, while the additional variable duty will be 47 dollars for paddy rice and 67 dollars for milled rice. Finally, for whole milk powder, the reference price is 4,733 dollars per MT and the payment for additional variable duty is -325 dollars. Find out what the reference prices and preceding variables were at the following link. The Price Band is a trade policy instrument used to stabilize import costs and domestic prices of ...

Source: PEagronoticias