Vietnam not to import sugar next year

Vietnam will not need to import sugar next year as the country has achieved some 1.4 million tones of sugar in the 2011-2012 sugar cane crop, according to the Ministry of Agriculture and Rural Development (MARD).

In case the price of sugar keeps increasing in the last months of 2012, the MARD will work with the Ministry of Industry and Trade (MoIT) to discuss quotas on sugar imports in line with Vietnam’s commitments to the World Trade Organisation (WTO).

This year, the MoIT has allowed businesses to import 250,000 tones of sugar to meet the domestic demand. In fact, Vietnam produced 1.14 million tones of sugar in the 2010-2011 sugar cane crop, up 26 percent compared to the previous crop, thus basically meeting the domestic demand for sugar. 

That’s why the MoIT recently cancelled the import of nearly 130,000 tones of sugar in a bulk order for 250,000 tones this year.

vov

>   Retail sector urged to reap profits online (07/12/2011)

>   HCM City hosts a series of international exhibitions (08/12/2011)

>   Viettel to swallow up EVN Telecom (08/12/2011)

>   Coffee export earns $2.3 billion (08/12/2011)

>   Goods owners entreating God as goods get stuck at ports (08/12/2011)

>   Chinese scramble for materials, Vietnamese struggle to find ways-out (08/12/2011)

>   Ministry mulls banning A83 gasoline production (06/12/2011)

>   SOEs still keep cement positions in lucrative business fields (06/12/2011)

>   TPP – new playing field with great opportunities and big pressure (06/12/2011)

>   Coffee export earns 2.3 billion USD (06/12/2011)