Hanoi: Vietnam government has decided to import 200,000 tonnes of sugar and the national council in charge of sugar quotas has auctioned licenses to import 40,000 tonnes of refined and 160,000 tonnes of raw sugar, reports Einnews.
Five out of seven bidders have won the bid for 100,000 tonnes of raw sugar and two have won the bid for 25,000 tonnes of refined sugar.
The auction was to support the domestic sugar output that was lower than the domestic demand, said Deputy Minister of Industry and Trade Tran Quoc Khanh.
We are importing sugar to meet the domestic demand and we will increase the sugarcane cultivation area to meet the domestic demand in future, he said.
The supply-demand gap has increased in the country as annual output of 750,000 tonnes plus the import quotas auctioned in September have not been able to meet the domestic demand. Hence the government is again importing 200,000 tonnes of sugar to fill the gap.
