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Vietnam's imported sugar is almost twice as much as domestic sugar

 Last Update: 2021-12-01
 Source: Internet
 Author: User

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Vietnam's "Business and Industry News" reported on November 10 that in the first nine months of this year, Vietnam's sugar imports increased substantially, and the import volume was nearly twice that of domestic sugar
.

According to information from the General Administration of Customs of Vietnam, in the first nine months of this year, Vietnam spent US$611 million to import 1.
3183 million tons of sugar, an increase of 30% year-on-year, almost double the amount of sugar produced in Vietnam (689,300 tons) in the 2020/2021 crop year.

.

At present, the supply of the sugar market in Vietnam comes from the import of the right trade, the smuggling of the southwest border, and the 97,000 tons of sugar imported under the tariff quota in 2021.
In addition, there will be sugar produced in the 2021/2022 crop year at the end of November
.

Therefore, the supply of sugar is sufficient, and there will be no shortage in November this year and the following months
.
Imported sugar still occupies the market advantage, and domestic sugar prices will fluctuate with world sugar prices
.

As the world sugar price is at the highest level in the past four years, international transportation costs are also very high, and domestic sugar prices will be close to regional sugar prices
.
But it is still lower than the price of imported sugar from Thailand that has imposed anti-dumping and countervailing duties
.

Sugar imports

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