Sugarcane farmers have been forced to reduce their farming areas due to difficulties from imported and smuggled sugar. — VNA/VNS Photo Quang Cuong The sugar industry is facing many challenges and unfair competition from imported and smuggled goods, experts told a conference held in Ha Noi on Tuesday. 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, Viet Nam 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 per cent. Since the removal of tariff quotas, the total amount of sugarcane imported into Viet Nam 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, Viet Nam’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… Read full this story
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