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Tuesday, August 16, 2022

Vietnam imposes anti-dumping duty on sugar originating in Thailand

The Saigon Times

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HCMC – The Ministry of Industry and Trade has decided to impose an anti-dumping and anti-subsidy duty of over 47.6% on sugar products that originate in Thailand, but are exported to Vietnam by five ASEAN countries – Laos, Cambodia, Indonesia, Malaysia and Myanmar.

The duty will take effect from August 9, 2022 to June 15, 2026, the local media reported.

Imported sugar products will not be subject to the duty if they are made from sugar canes grown in the five countries, according to the ministry.

The decision was made on August 1 based on the result of a probe into the evasion of trade remedies for sugar products originating in Thailand.

The investigation was launched in September last year following requests from domestic sugar producers, as Thai sugar products subject to anti-dumping and anti-subsidy duties entered the Vietnamese market through the five ASEAN countries.

The result of the probe showed the five nations evaded trade remedy measures imposed on Thailand to export sugar products originating in Thailand to Vietnam, heavily affecting the local sugar and sugarcane industry.

In June 2021, the ministry levied an anti-dumping and anti-subsidy duty of 47.64% on several sugar products imported from Thailand for five years.

Over 3,300 workers have lost jobs and 93,220 farming households have been hit hard by difficulties facing the local sugar production industry as the imports of Thai sugar surged in 2020.

The ministry will continue to work with the relevant agencies to keep a close watch on trade remedy measures, sugar production and consumption, and the prices of sugar products to adopt appropriate and effective management measures, ensuring a fair business environment and guaranteeing the benefits of farmers, consumers and firms.

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