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Friday, July 19, 2024

VSSA suspects Indonesia dumps sugar on Vietnam market

By Nam Nguyen

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HCMC – The Vietnam Sugarcane and Sugar Association (VSSA) has voiced its suspicion over Indonesia having dumped sugar on the Vietnamese market in recent years, as its export prices were below local prices and the fair market value.

General Department of Vietnam Customs statistics showed that Vietnam’s sugar imports from Indonesia were priced at US$594 per ton in 2021 and US$664 per ton in 2022. This is abnormal, said the association, as those levels were far below those listed in Indonesia.

Information from the website of the Indonesian Ministry of Commerce showed sugar in Indonesia was sold at US$835 per ton in 2021 and US$895 in 2022, VSSA’s report stated.

Indonesia’s low prices of sugar exported to Vietnam, equal to 71% or 74% of its original ones, has caused material injury to Vietnam’s sugar industry.

Sugar imports from Indonesia are sold at a price a little higher than those from Thailand, which has been subject to anti-dumping and anti-subsidy duties imposed by Vietnam.

Last year, Vietnam imported nearly 1,230,000 tons of sugar, 244,000 tons lower than in the previous year, while the country exported 110,848 tons versus 189,588 tons in 2021, according to statistics from Vietnam Customs.

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