Hanoi: Vietnam suspects Indonesia of dumping sugar in the market, the Vietnam Sugarcane and Sugar Association (VSSA) said on Friday, reported Vietnam Net Global.
Data from the General Department of Vietnam Customs reveals that in 2021, Vietnam imported sugar from Indonesia at a rate of US$594 per ton, and in 2022, the price rose to US$664 per ton. The VSSA deems these price levels abnormal, given that they are significantly lower than the prices listed by Indonesia.
According to information obtained from the Indonesian Ministry of Commerce’s website, sugar prices in Indonesia were reported at US$835 per ton in 2021 and further increased to US$895 per ton in 2022, as indicated in the VSSA’s report.
The VSSA argues that Indonesia’s practice of selling sugar to Vietnam at rates equivalent to 71% or 74% of their original prices has resulted in substantial harm to Vietnam’s sugar industry. Notably, sugar imports from Indonesia are priced slightly higher than those from Thailand. Thailand has faced anti-dumping and anti-subsidy duties imposed by Vietnam.
