Vietnam slaps anti-dumping duty on Thai sugar
Vietnam slaps anti-dumping duty on Thai sugar
Vietnam has applied an anti-dumping and anti-subsidy duty of 33.88 percent on raw sugar from Thailand to protect domestic producers.
Farmers load sugarcane on a truck in Tay Ninh Province, southern Vietnam. Photo by Shutterstock/Tran Thanh Sang.
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The Ministry of Industry and Trade said that although its preliminary investigation found Thai sugar exporters have a dumping margin of 48.88 percent, it decided to collect 15 percentage points less after taking into account the socio-economic impacts of the duty and the benefits of farmers, manufacturers and consumers.
The ministry began its investigation in September last year upon requests by Vietnamese sugar producers who claimed they were being hurt by the low-priced Thai product.
Its data showed that Vietnam's sugar imports from Thailand rose 330 percent from 2019 to 1.3 million tonnes last year.
This resulted in 3,300 people losing their jobs as many factories had to close and more than 93,200 farmers were affected.
The final decision on the duties will be determined in the second quarter this year.
