The data compiled by Vietnam Sugarcane and Sugar Association (VSSA) suggests that the cheap sugar import from Thailand is creating trouble for the local sugar producers.
The sugar import from Thailand has increased by 12.1 per cent this season.
Abiding by the commitment for trade-in ASEAN countries as per Goods Agreement (ATIGA), the country abolished sugar import tariff quotas for ASEAN members from January 1. This resulted in Thailand increasing sugar export to the country making it the second-largest sugar importer from Thailand.
The sugar price of sugar imported from Thailand is lower than the cost of domestic sugar produced in the country.
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