The sugar industry is facing many challenges and unfair competition from imported and smuggled goods, experts told a conference held in Hanoi on December 1. Sugarcane farmers have been forced to reduce their farming areas due to difficulties from imported and smuggled sugar. Also discussed were possible solutions, such as applying trade remedies and building chain links to remove the “bottlenecks” for the local sugar industry. After many years of maintaining a protection policy, Vietnam began to implement its commitments under the ASEAN Trade in Goods Agreement (ATIGA) from the beginning of the year, by not limiting the sugar imported from ASEAN countries and tariffs being cut to zero percent. Since the removal of tariff quotas, the total amount of sugarcane imported into Vietnam has increased rapidly, reaching approximately 1.3 million tonnes in the first 10 months of 2020. In addition, the price of imported sugar is also very low, causing many difficulties for sugar enterprises as well as farmers. Faced with cheap imported sugar, Vietnam’s domestic sugar price has fallen to a very low level, leading to low sugarcane prices. This, the conference was told, was one of the reasons sugarcane farmers have fallen into debt. Speaking at the… Read full this story
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