Vietnam sugar association wants country to import raw sugar
Staff Writer |
Vietnam Sugar cane and Sugar Association (VSSA) has proposed that the Prime Minister allow importing raw sugar instead of refined sugar to save foreign currency for the 2016-17 crop.
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The association sent a proposal to Prime Minister Nguyen Xuan Phuc on the sugar auction this year.
It asked the PM to instruct the Ministry of Industry and Trade to officially promulgate the auction mechanism on sugar import quotas following the first successful pilot auction in September.
The ministry successfully organised the auction to import 85,000 tonnes of sugar this year as 11 firms won bids. From these, three companies won bids for import quotas of raw sugar at the price of VND1.53 million per tonne - Bien Hoa Sugar Joint Stock Company, Thanh Thanh Công Tây Ninh Sugar and Sugarcane Company and Khanh Hoa Sugar Company - securing a total import quota of 40,000 tonnes.
The eight winners for import quotas of refined sugar at a price of VND1.69 million per tonne were URC Vietnam, Puratos Grandplace Vietnam, Perfetti Van Melle and Coca Cola Vietnam, as well as Nestle Vietnam, Vinamilk, Sanofi Synthelabo Vietnam and a member of the Trung NguyenGroup.
Vietnam must import 85,000 tonnes of sugar this year, following its commitment to the World Trade Organisation. The commitment consists of 40,000 tonnes of raw sugar and 45,000 tonnes of refined sugar.
VSSA said the auction results have been highly appreciated due to the transparency and publicity in managing the sugar import quota. â–
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