Seven enterprises were assigned tariff quotas with a total volume of 109,000 tonnes at a recent sugar import auction organised by the Ministry of Industry and Trade (MoIT).
Vietnam remains the biggest sugar importer, third largest trading partner and the third biggest foreign investor of Laos, after Thailand and China, Vientiane Times reported on October 11.
There will be no limits on the amounts of sugar imports into Vietnam from member states of the Association of Southeast Asian Nation (ASEAN), beginning next year.
Indonesia will prioritise importing buffalo meat, rice and raw sugar from India, which agreed to adjust crude palm oil (CPO) tariff for the country earlier this month.
The Vietnam Sugar and Sugarcane Association proposed to the PM not to allow an extension for temporary sugar imports for re-export as the sweet industry was struggling with high stockpiles and slumping prices due to illegally imported sugar.
The sale of sugar has been facing difficulties since the beginning of October, causing problems for sugar producers in recent days, according to the Sugar and Sugarcane Association.
Vietnam Sugar cane and Sugar Association (VSSA) has proposed that the Prime Minister allow importing raw sugar instead of refined sugar to save foreign currency for the 2016-17 crop.
The Ministry of Industry and Trade will establish a council to conduct pilot bidding on the import of 85,000 tonnes of sugar under a tariff rate quota (TRQ) this year.
An import quota of 86,000 tonnes of sugar during 2016 in line with the World Trade Organisation (WTO) rules, coupled with possible imports from Laos, will continue to burden local producers.
The Government has agreed with the Ministry of Industry and Trade to put
sugar import within quota out for tender in 2016 instead of allocating
it in order to ensure transparency.
The quota for Laos sugar imports (coded HS 1701) is 50,000 tonnes this
year, and the import tariff is 2.5 percent, according to the Ministry of
Industry and Trade.
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