VIETNAM: Imports seen at 280,000 tonnes
Published: 02/08/2010, 9:44:56 AM
Vietnam will import 280,000 metric tonnes of sugar this year to prevent the price of the sweetener from surging further on the local market, according to Thanh Nien Daily.
The amount will be imported in three shipments, the ministry said, without disclosing a specific timeframe.
But Nguyen Thanh Long, general director of Can Tho Sugar Company, said importing sugar would not be an effective measure to stabilise the local market unless the government decided to cut import duties.
Sugar retail prices have increased nearly 30% over the past two month to VND22,000 (US$1.12) a kilogram.