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Opportunities for sugar sector to develop still ahead: PM

by VTV419 February 2020 Last updated at 09:58 AM

VTV.vn - At a meeting with the Government's permanent members in Hanoi on Tuesday, Prime Minister Nguyen Xuan Phuc said that the State will support but won’t subsidize the sugar industry.

The sector must compete fairly in the context of international integration. Official reports revealed that in the 2018-2019 crop, 17 out of 38 firms faced the risk of losing equity. Prices of sugarcane declined to around 32 to 36 USD per tonne.

So far, 7 sugar mills have suspended operations, and only 4 or 5 factories are working effectively.

Earlier this year, Vietnam removed the tariff-rate quota on sugar imports under the ASEAN Trade in Goods Agreement, so sugar import prices are now very cheap.

The Agriculture ministry said Vietnamese businesses can hardly export sugar because of other countries' protectionist policies. At the event, the Prime Minister agreed to assign authorised agencies to carry out trade remedies that don't counter international rules in order to fight the dumping of sugar products and to combat sugar smuggling and trade fraud.

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