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Vietnam to impose 34% anti-dumping tax on sugar imports from Thailand


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Vietnam to impose 34% anti-dumping tax on sugar imports from Thailand

 

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REUTERS FILE PHOTO for reference only

 

HANOI (Reuters) - Vietnam said on Tuesday it plans to impose anti-dumping duties on raw sugar that originates in Thailand, claiming soaring imports are undermining its domestic sugar industry.

 

The Vietnamese industry and trade ministry said a 33.88% levy would apply on Thai sugar, but a timeframe for when it will come into force has yet to be decided.

 

Vietnam removed import duties on sugar imported from Southeast Asian countries in 2020 in accordance with the commitments of the ASEAN Trade in Goods Agreement (ATIGA).

 

However, provisions allow ASEAN countries to impose import duties to protect the rights and interests of their domestic industries against anti-competitive behaviour.

 

Vietnam's decision to reintroduce duties, specifically for raw sugar, comes after the ministry conducted an anti-dumping investigation that started last September, following complaints by Vietnam sugar industry officials.

 

The probe's preliminary results showed that subsidized and dumping of sugar from Thailand surged to 1.3 million tonnes in 2020, up 330.4% from 2019, the ministry said in a statement.

 

"A series of domestic sugar factories have been closed, causing 3,300 employees to lose their jobs and having negative impacts on 93,225 farmer households," the statement added.

 

"An anti-dumping tax of 33.88% will be imposed on raw sugar originated from Thailand and will be reviewed regularly."

The ministry's investigation is still ongoing and will conclude in the second quarter. The Vietnamese side will work with relevant agencies to make a final decision on when it will introduce the duty, the ministry said.

 

(Reporting by Phuong Nguyen; Editing by Susan Fenton)

 

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-- © Copyright Reuters 2021-02-10
 
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5 hours ago, webfact said:

The probe's preliminary results showed that subsidized and dumping of sugar from Thailand surged to 1.3 million tonnes in 2020, up 330.4% from 2019, the ministry said in a statement.

Naughty naughty.

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Another good example how Thailand deals with trade competition even under FTA's.

Like with rice and rubber, maybe the Prayut regime can create a Sugar Pledge program to subsidize the selling price at higher than ASEAN market price. Like with rubber, buy the oversupply and mix sugar into road construction, pillows and mattresses. 

Sell to the Army and require soldiers to eat more sugar - want coffee or tea with your sugar?

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Sounds great, hope it has an effect, not that it's likely. It's insane that poisounos air is even subsidized now. Sugar cane burning in the season Dec to Feb is the known main reason for the disgusting air in recent years. The sugar industry should be charged with the cost for PM2.5 masks, lung cancer and all the other 'health benefits' they are creating at the moment in Thailand. The issue certainly is not the farmers that are forced to ruin their own health, but the profiteering industry lot and their lobbyists in various positions that get all the profit.

 

A few years ago setting up sugar factories was highly regulated due to their extremely bad impact on everyone, nowadays the industry suddenly is highly regarded by government and even subsidized. A good thing for the government that no one is allowed to raise that as an issue.

 

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