31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
Vietnam maintains in force anti-dumping duty on sugar from Thailand
Khanh Khanh 15:26, 2022/08/02
The move aims to ensure a fair and competitive environment for Vietnam’s sugar industry.

Vietnam will keep in force anti-dumping and anti-subsidy duties of 47.64% for another five years on Thai cane sugar products, which are imported into Vietnam through Cambodia, Indonesia, Laos, Malaysia, and Myanmar.

 A Vietnamese farmer harvests sugarcane in Phung Hiep District, Hau Giang Province. Photo: Giang Lam

The decision was made by the Ministry of Industry and Trade on August 1, based on results from its investigation in accordance with international commitments.

The ministry decided to levy an anti-dumping duty of 42.99% and a countervailing duty of 4.65%,  from August 9, 2022, to June 15, 2026.

The duties will not be applied to sugar imported from the five ASEAN countries mentioned above, as long as the sugar is produced and harvested in those countries.

Previously, in May, the ministry also extended an investigation into the evasion of trade remedies for sugar products originating from Thailand for another two months to ensure that the process runs well.

Last June, the ministry slapped anti-dumping and anti-subsidy duties of 47.64% for five years on sugar originating from Thailand with the aim to ensure a fair and competitive environment for Vietnam’s sugar industry. 

In 2020, Thai businesses shipped nearly 1.3 million tons of subsidized sugar to Vietnam, an increase of 330.4% against 2019. Consequently, as many as over 3,000 Vietnamese workers have lost their jobs and some 90,000 farmers have been affected, according to MoIT.

Statistics from the General Department of Vietnam Customs noted the volume of sugar imported from the five above-mentioned ASEAN countries had sharply risen from 107,600 tons in October 2020 to 527,200 tons in June 2021. Meanwhile, the import volume from Thailand has decreased by nearly 38%, from 955,500 to 595,000 tons in the period.

The Ministry of Industry and Trade said it will continue to coordinate with relevant agencies to monitor the impact of trade remedies, production situation, supply and demand, and price to take appropriate management measures. 

RELATED NEWS
TAG: anti-dumping duty sugar imports trade remedies
Other news
12:10, 2022/10/26
Vietnam's cooperative economy needs changes
It is necessary for the cooperatives and cooperative economic model to have the “determination to digital transformation, innovation, and change associated with efficiency.”
10:07, 2022/07/25
Hanoi to spend over $13 million on empowering SMEs via digital transformation
The latest decision of the local authority is applied from September 23.
09:58, 2022/58/24
Role of Hanoi and Ho Chi Minh City in tourism planning for 2021-2030
In the next stage of tourism development, good quality targeting high-end, long-stay, and high-spending visitors is believed the top priority.
11:43, 2022/43/22
Vietnam ranked 63rd in Global Index of Digital Entrepreneurship Systems
Cultural support for entrepreneurial activity is Vietnam’s notable strength.
17:29, 2022/29/20
Vietnam remains cautious about inflation risks: PM
Economic resilience is essential for Vietnam to promote growth and keep inflation under control.
17:51, 2022/51/15
Hanoi, HCMC serve as growth pillars in 2021-2030 master plan
Planning is the first step to setting up the fastest and most efficient route to achieve Vietnam’s development goals set for the 2021-2030 period.