Viet Nam to auction sugar import quotas for 94,000 tonnes

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The Ministry of Industry and Trade (MoIT) will hold bids on the right to use duty quota to import 94,000 tonnes of sugar this year.

More than 89,000 tonnes of sugar was imported last year following a duty import quota. — Photo enternews.vn

The Ministry of Industry and Trade (MoIT) will hold bids for the right to import 94,000 tonnes of sugar this year.

Per a ministry circular on managing import tariff quotas for sugar, bidders can include traders who supply sugar for food manufacturing and traders supplying raw sugar for the production of refined sugar.

The ministry will set up a council for the auction.

This is the third time that the MoIT will hold such a sugar import bidding, following the Viet Nam Sugarcane Association’s repeated proposals over the years to open tenders.

An auction was held for the first time in September 2016 for duty quota to import 85,000 tonnes of raw and refined sugar. Eleven businesses won the tender.

Last year, the auction council permitted businesses to import 44,000 tonnes of raw sugar and 45,500 tonnes of refined sugar. — VNS

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