Trade and markets
 

Detail

Area
Ecuador
Commodity Group
Rice
Commodity
All
Date
06/03/2015
Policy Category
Trade
Policy Instrument
Import levies, safeguard measures
Description
Imposed import surcharges on a wide range of products for a period of fifteen months, starting on 11 March 2015, in an effort to counteract the impact of a decline in international oil prices and a strengthening of the US dollar on its economy. While exceptions were established, including for the lesser developed members of the Latin American Integration Association (ALADI), in the case of milled rice, the levy was set at 45%, to be applied on top of the duties of 0% - 67.5% normally accrued by milled rice.