On March 7th, Dow Jones Newswires reported on Dow Jones New Delhi. The Ministry of Finance said on Friday that Vietnam will reduce crude tariffs on imported sugar from 25% to 15% starting on April 15. Refined sugar import tariff will be from 40%. Cut to 15%. Ha Huu Phai, secretary-general of the Vietnam Sugar Association, said that the main purpose of this tariff reduction is to promote sugar imports and to ease domestic sugar prices under inflation. At present, the import tariffs on sugar from Southeast Asian countries are about 5%, and Thai exporters have thus benefited a lot.
Vietnam is expected to import 250,000 tons of sugar this year. It is estimated that Vietnam's sugar production in 2011 is expected to reach 100-1.10 million tons, and 900,000 tons last year.
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