HCMC – Vietnam imported a large proportion of sugar in the 2021-2022 crop to meet the domestic demand despite an 8.3% year-on-year increase in sugar output to 750,000 tons.
There was a massive shortage of sugar though the country had many sources of sugar supply, such as local production, tariff quota allocation for import of 113,000 tons of sugar in late September, sugar on inventory in the previous crop years and sugar imported from ASEAN countries which are not subject to trade remedy evasion.
Given the above situation, the Ministry of Industry and Trade was authorized to auction an additional import tariff quota for 200,000 tons of sugar for the 2021-2022 crop year.
After the auction took place at the headquarters of the Ministry of Industry and Trade on December 26, seven enterprises were allocated the import tariff quota for a total additional amount of sugar at 125,000 tons to supplement this crop year.
Among those, five enterprises allocated to import a total amount of 100,000 tons of raw sugar and two companies entitled to import a total of 25,000 tons of refinery sugar.