Vietnam: sugar import quota of 86,000 tons during the year 2016 in the framework of the World Trade Organization (WTO) in line with the ability to lead Laos will continue to burden the country's domestic sugar producers.
According to the Ministry of Agriculture and Rural Development said that the release price of sugar has increased during recent due to the decline of inventory 4 thousand tons of the amount of 10 thousand tons. The wholesale price is around 15,000 dong (67 cents) in mid-December, up 10,000 dong, compared with October.
However, the Vietnam Sugar and Sugar Association said the sugar price will rise in the coming months as manufacturers grow Since the middle of the month, which could drive down inventory in the near future.
Ministry of Industry and Trade will lead to requests for sugar import quota for next year instead of providing analysis of its benefits as last year To ensure transparency. Association requested the import of raw sugar should be a priority.
During recent years, the sugar industry has been struggling with high inventory levels and the decline of values also odds Additional pressure on imports and sugar smuggling, theft and so on.
During 2015, Vietnam imported some 81,000 tonnes of sugar quota in the WTO and other 5 thousand tons of sugar Hoang Anh Gia Lai, who supply in Laos in the tax rate of 2.5%.
Opportunities in the TPP agreement for this product:
Sugar demand from member countries of the Partnership Agreement, the Inter-Pacific (TPP) has been predicted that there will be some 9 million tons per year, which provides opportunities for local industry to expand its exports.
However, strong competition will occur while Vietnam needs to change or eliminate the new tax table sugar imports Under the TPP agreement in 11 years drew his current tax rate of 25% and 40% for raw sugar and refined sugar ready.
Among the TPP member countries, the United States, Mexico and Australia is the largest sugar producer.
Experts urged the domestic industry to improve productivity and quality, while priceless spending could compete with the import market local.
Leaders of the Faculty of Economics of the University of Agriculture, Forestry and Ho Chi Minh City, Nguyen Van Ngai said: 'It's time that the local sugar industry to do improvement.
The Vietnam-growing area which were estimated around 30 thousand hectares, with yields collected around 20 million tonnes.
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