Wednesday, December 7 2016

VietNamNews

Eleven win first-ever sugar bids

Update: September, 08/2016 - 02:00
A worker operates a packaging machine at a KCP Vietnam Industries Limited sugar factory, an Indian-owned company located in Phú Yên Province. — VNA/VNS Photo Thế Lập
Viet Nam News

HÀ NỘI –  At the Ministry of Industry and Trade’s first-ever auction on sugar import quotas yesterday, eleven firms won bids. 

Việt Nam must import 85,000 tonnes of sugar this year, following its commitment to the World Trade Organisation (WTO). The commitment includes 40,000 tonnes of raw sugar and 45,000 tonnes of refined sugar.

The first-time public auction was created to ensure transparency, the ministry said.

According to Phan Thị Diệu Hà, Deputy Director of the ministry’s Import-Export Department, there were 22 valid bids out of 25 participants.

Three companies won bids for import quotas of raw sugar, namely Biên Hòa Sugar Joint Stock Company, Thành Thành Công Tây Ninh Sugar and Sugarcane Company and Khánh Hòa Sugar Company, the three firms securing a total import quota of 39,998 tones.

Eight winners for import quotas of refined sugar included URC Việt Nam, Puratos Grandplace Việt Nam, Perfetti Van Melle,  Coca Cola Việt Nam, Nestle Việt Nam, Vinamilk, Sanofi Synthelabo Việt Nam, and a member of Trung Nguyên Group.

For sugar within quotas, tariffs were set at 5 per cent on goods imported from ASEAN countries. From other countries, the tariffs were 25 per cent on raw sugar and 40 per cent on refined sugar.

For sugar outside quotas, tariffs were placed at 80 per cent and 85 per cent on raw and refined sugar, respectively.

Sugar prices have been on an upward trend since the year’s beginning, up between 20-30 per cent over the same period last year, due to drops in output of 2015-16 crop caused by drought and salt invasion, according to the ministry.

Previously, the Ministry of Industry and Trade proposed to import an additional 200,000 tones of sugar and received the Government’s approval for an additional import quota of 100,000 tonnes, a move that augments the WTO’s 85,000 ton  quota and Hoàng Anh Gia Lai’s 30,000 tonnes from Laos.

Sugar stockpiles were estimated to surpass 400,000 tones in July, according to Việt Nam Sugar and Sugar Association, which estimated that sugar imports and smuggled sugar might push supply surplus to 200,000 tones this year.

Vũ Thị Huyền Đức, the association’s deputy president said that sugar output for the coming 2016-17 crop was expected at 1.4 million tones, 50 per of which was refined sugar. - VNS

Winners of sugar import quotas

Raw sugar (40,000 tones)

Refined sugar (45,000 tones)

Biên Hòa Sugar

14,444 tones

URC Việt Nam

4,000 tones

Thành Thành Công Tây Ninh

14,444 tones

Puratos Grandplace Việt Nam

2,000 tones

Khánh Hòa Sugar

11,110 tones

Perfetti Van Melle

6,000 tones

 

Coca Cola

4,000 tones

Nestle Việt Nam

9,000 tones

Vinamilk

16,000 tones

Sanofi Synthelabo Việt Nam

1,000 tones

Trung Nguyên Group’s branch

3,000 tones

 

 

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