Vietnam Cut Import Tariff on Sugar to 15% as of April 15

According to the Ministry of Finance of Vietnam, as of April 15, 2011, Vietnam's import tariff on crude sugar and that on refined sugar will be reduced from 25% to 15% and from 40% to 15%, respectively.

Ha Huu Phai, General Secretary of the Vietnam Sugar Association, said that the tariff cut aimed at promoting sugar imports and alleviating pressure on sugar price under the circumstance of inflation. At present, the import tariffs of sugar in South-East Asian countries are around 5%, from which Thailand exporters benefit a lot.