Malaysia’s largest sugar producer calls for hefty tariff on imported sugar from Thailand
Kuala Lumpur: MSM Malaysia Holdings Bhd has called on the government to impose a 50 percent tariff on sugar imports from Thailand to protect the local industry. CEO Syed Feizal Syed Mohammad said Malaysia’s production capacity exceeds demand, making imports unnecessary. He cited Vietnam’s 48 percent tariff as a model to prevent market dumping and ensure fair competition.
KUALA LUMPUR: MSM Malaysia Holdings Bhd has urged the government to impose a tariff of up to 50 per cent on imported sugar from Thailand to safeguard the domestic industry.
MSM group chief executive officer Syed Feizal Syed Mohammad highlighted the influx of Thai sugar and its impact on local producers, likening the situation to Vietnam, where a 48 per cent tariff was introduced to curb dumping practices.
“Our production capacity of 2.8 million tonnes per year far exceeds the domestic demand of 1.55 million tonnes, making imports unnecessary,” he said at a press conference after MSM’s annual general meeting here today.
“A tariff close to 50 per cent would level the playing field and ensure fair competition while protecting local producers from unsustainable practices,” he added.
MSM, in collaboration with other industry players, said it had engaged with Investment, Trade and Industry Ministry to advocate for these measures, emphasising the importance of supporting Malaysia’s indigenous production capabilities.
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Source : The Business Times
