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More than 10 sugar mills shut down because of big losses

More than 10 sugar mills shut down because of big losses
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01/04/2021

09:00
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Many sugar mills have had to shut down because they cannot compete with imports.
After ATIGA (ASEAN Trade in Goods Agreement) took effect, the tariff on sugar imports to Vietnam was slashed from 85 percent to 5 percent. As a result, while domestic output was in excess, Vietnam still had a trade deficit of 884,285 tons of sugar a year.
In the 2019-2020 crop, the sugarcane growing area decreased by another 15-20 percent, which raised concern about material shortages for sugar mills. ....

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