|The Ministry will reserve 10% of the imported sugar to stabilize the market.|
Under the Vietnamese Government's instruction, the Ministry of Trade recently announced its decision on sugar imports in 2006.
Accordingly the ministry will grant 30% of imported sugar to local sugar factories for refinery while another 30% of sugar quotas will be allocated to import companies for production and 30% to sugar trading companies.
The Ministry also stated in the decision that it would reserve 10% of the imported sugar to stabilize the market when necessary.
The cane sugar most needed for import is Category 1701 of the current preferential tariff.
Enterprises that import Category 1701 for export production do not need to ask for permission from the Ministry while others which import Category 1701 for domestic consumption and production have to.
The import procedure, terms and payments of tariffs will be carried out in accordance with the Ministry’s current regulation.