Imported sugar from ASEAN countries except Thailand jumped 16-fold
The amount of sugar imported from ASEAN nations except for Thailand boomingly soared with the volume increasing by multiple times against same period last year.
Imported sugar from ASEAN countries jumped 16-fold. Photo: TL.
According to the General Department of Vietnam Customs, the first five months of this year witnessed abnormal developments in sugar imports to Vietnam from other countries in the ASEAN bloc. The amount of imported sugar from Cambodia, Laos, Malaysia, Myanmar, and Indonesia to Vietnam increased explosively against the same period last year.
In particular, from January to May, the total amount of sugar imported from the five countries was 320,000 tons, up 16 times compared to 20,000 tons last year.
Vietnam Sugar and Sugarcane Association (VSSA) assessed that the level of an interannual growth from 20,000 to 320,000 tons was irregular while the five aforementioned countries showed no signs of enhancement in the competitiveness capacity in sugar and sugar cane to export to Vietnam with such a booming rate.
Therefore, VSSA considered it is a clear sign of anti-dumping duties and anti-subsidy taxes invasion for sugar and sugarcane products originating from Thailand, while both these five countries all imported sugar from Thailand.
Also according to VSSA, the nature of the amount of sugar imported into Vietnam from Cambodia, Laos, Malaysia, Myanmar, and Indonesia is related to Thailand origin. Due to being imported from these five countries, the entire 320,000 tons of imported sugar mentioned above are only subject to 5% tax compared to the tax rate commit (if imported directly from Thailand) of 33.88% -48.88% depending on the type of sugar.
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