Other News Nearly a third of local sugar plants shut down By Lan Nhi Wednesday, Dec 2, 2020,09:58 (GMT+7) Nearly a third of local sugar plants shut downBy Lan Nhi A farmer harvests sugarcane. Nearly a third of domestic sugar plants have shut down – PHOTO: THANH HOA HANOI – Only 29 of 40 local sugar plants remained operational in the 2019-2020 season due to a high volume of sugar imports and the deployment of the ASEAN Trade in Goods Agreement (ATIGA) with lower tax rates for sugar imports from ASEAN markets, according to the Vietnam Sugarcane and Sugar Association (VSSA). The 2020-2021 season is forecast to be a hard time for the sugar sector, especially since the Covid-19 pandemic remains a big challenge. Four more sugar mills—Son Duong, Nong Cong, Van Phat and Pho Phong—are likely to stop their operations due to a shortage of input materials, resulting in their poor performance. The local sugar sector has been hit for many years due to the smuggling of sugar, mainly from Thailand. Meanwhile, other ASEAN countries, such as Thailand, the Philippines and Indonesia, despite commitments to the ATIGA, have still employed measures to protect their sugar firms. Vietnam has fulfilled its commitments to the… Read full this story
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