| 8 traders are eligible to participate in the 2023 Sugar Import Tariff Quota Allocation Session The Ministry of Industry and Trade organizes the 2023 Sugar Import Tariff Quota Allocation Session |
On the morning of November 28, in Hanoi, the Ministry of Industry and Trade held a session to allocate import tariff quotas for sugar in 2023 by auction.
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| The Council for Allocating Import Tariff Quotas for Sugar in 2023 Announces Auction Results |
After the auction was conducted transparently and publicly, Mr. Tran Thanh Hai - Deputy Director of the Import-Export Department - Ministry of Industry and Trade, Standing Member of the Sugar Import Tariff Quota Allocation Council announced that there were 8 traders with valid documents including: Vietnam Sugar Joint Stock Company; Lam Son Sugar Joint Stock Company; Son La Sugar Joint Stock Company; Thanh Thanh Cong - Bien Hoa Joint Stock Company; Bien Hoa Consumer Goods Joint Stock Company; Bien Hoa - Ninh Hoa Sugar One Member Co., Ltd.; Mondelez Kinh Do Vietnam Joint Stock Company; Kinh Do Northern One Member Co., Ltd.
Summarizing the results, the Council for allocating import tariff quotas for sugar in 2023 announced as follows:
Vietnam Sugar Joint Stock Company was assigned 20,000 tons
Thanh Thanh Cong - Bien Hoa Joint Stock Company was assigned 20,000 tons
Bien Hoa Consumer Goods Joint Stock Company was assigned 20,000 tons
Bien Hoa - Ninh Hoa Sugar One Member Co., Ltd. was assigned 20,000 tons
Lam Son Sugarcane Joint Stock Company was assigned 20,000 tons
Son La Sugarcane Joint Stock Company was assigned 5,000 tons
Mondelez Kinh Do Vietnam Joint Stock Company was assigned 1,000 tons
Kinh Do Mien Bac Company Limited was assigned 1,000 tons
The total quantity of sugar import tariff quotas allocated to businesses this time is 107,000 tons, lower than the total quantity of sugar import tariff quotas in 2023 allocated by auction method of 119,000 tons.
With this result, the State budget collected 265,200 million VND.
After the allocation session, the 2023 Sugar Import Tariff Quota Allocation Council will report the results to the Ministry of Industry and Trade for approval, then issue a document allowing businesses to import the auctioned amount of sugar at preferential tax rates.
With this auction, domestic sugar enterprises are expected to continue to produce effectively and stably, contributing to the development of the agricultural sector and helping to stabilize the lives of sugarcane farmers.
The Council for the allocation of import tariff quotas for sugar in 2023 also noted that the Minister of Industry and Trade signed and issued Decision No. 1578/QD-BCT dated June 15, 2021, applying official anti-dumping and anti-subsidy taxes on some cane sugar products originating from the Kingdom of Thailand, Decision No. 1514/QD-BCT dated August 1, 2022, applying measures against the evasion of trade defense measures on some cane sugar products (imported into Vietnam from the Kingdom of Cambodia, the Republic of Indonesia, the Lao People's Democratic Republic, Malaysia and the Republic of the Union of Myanmar), Decision No. 1989/QD-BCT dated August 3, 2023 on the results of the first review of the application of anti-dumping and anti-subsidy measures on some cane sugar products originating from the Kingdom of Thailand. sugar cane products originating from the Kingdom of Thailand, Decision No. 2960/QD-BCT dated December 30, 2022 amending and supplementing Decision No. 1514/QD-BCT dated August 1, 2022 applying measures to prevent evasion of trade defense measures for certain sugar cane products.
In case traders are allocated the 2023 sugar import tariff quota by auction method, if they import sugar originating from the Kingdom of Thailand, they will be subject to official anti-dumping and anti-subsidy taxes according to Decision No. 1578/QD-BCT and Decision No. 1989/QD-BCT. If they import from countries listed in Decision No. 1514/QD-BCT and Decision No. 2960/QD-BCT, they may be subject to anti-circumvention taxes.
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