Seven Vietnamese firms allocated import quotas for 121,000 tons of sugar
Seven Vietnamese firms have secured sugar import quotas for 2024 following an auction held by the Ministry of Industry and Trade on September 20. A total of 121,000 tons of sugar was allocated, with six companies receiving 20,000 tons each, and Song Lam Sugarcane JSC getting 1,000 tons. This auction, which fulfills Vietnam’s WTO commitments on import tariff quotas, covers 96.03% of the 2024 quota of 126,000 tons.
Seven Vietnamese firms won sugar import quota allocations for this year at a Friday auction held by the Ministry of Industry and Trade in Hanoi.
Six of the firms, namely Vietnam Sugar JSC, Quang Ngai JSC, Lam Son Sugar JSC, Thanh Thanh Cong – Bien Hoa JSC, Bien Hoa Consumer Goods JSC and AgriS Ninh Hoa Import Export JSC, were allocated sugar import quotas of 20,000 tons each.
The seventh firm, Song Lam Sugarcane JSC, was allocated 1,000 tons, according to the ministry’s Import-Export Department.
The total of 121,000 tons account for 96.03% of total import quota of 126,000 tons for 2024 announced by the ministry.
The department said the auction was part of implementing Vietnam’s commitments to the World Trade Organization (WTO) regarding import tariff quota management.
Minister of Industry and Trade Nguyen Hong Dien on August 20 signed a decision outlining the amount, time and method for allocating sugar import quotas for 2024. Another decision, also dated August 20, established the Council for allocation of sugar import tariff quotas in 2024 via an auction process.
These documents were officially posted on the ministry’s electronic information portal for traders, organizations and relevant entities to review and follow up on.
Source Link : https://theinvestor.vn/seven-vietnamese-firms-allocated-import-quotas-for-121000-tons-of-sugar-d12383.html
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