Vietnam to Import 250,000 Tons of Sugar in 2011: Ministry
Vietnam will likely import 250,000 tons of sugar next year to meet domestic demand, said the Ministry of Agriculture and Rural Development (MARD).
Sugar refineries in Vietnam are forecast to produce around one million tons of sugar in the 2010-2011 season, failing to meet the domestic demand for nearly 1.5 million tons, according to the MARD.
Currently, 23 out of 39 sugar refineries have started the season by Nov 15, producing 52,900 tons of sugar, around 27,000 tons lower than the previous season, the ministry said, adding that the remaining factories will start producing this month.
The agency confirmed that the country will not lack sugar during the Lunar New Year festival. Sugar prices, however, will stay high due to increased prices in the world market.
In the 2009-2010 season, Vietnam produced only 889,000 tons of sugar, down 19,800 tons from a year earlier.
The Ministry of Industry and Trade granted an import quota of 300,000 tons of sugar in 2010. But local companies imported 210,000 tons by late Oct. (Vietnam & World Economy)
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