Bidding sugar import: 37,000 tons of raw sugar was inventoried

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The results of the bidding session showed the actual situation of the sugar industry. Photo: N.T

The total volume of sugar in 2018 is 94,000 tons, including 65,000 tons of raw sugar and 29,000 ton of refined sugar.

As a result, for the raw sugar, there were 4 bidders having valid dossiers and valid price offer tickets and there were 4 winners.

Specifically, Vietnam Sugar Joint Stock Company: 20,000 tons (registered price VND 1.400.000-1.450.000 /ton); Thanh Cong Bien Hoa Joint Stock Company: 4,000 tons (registered price VND 1,410,000/ ton); Bien Hoa-Ninh Hoa Sugar One Member Co, Ltd: 2,000 tons (registered price VND 1,410,000 / ton); TTC Bien Hoa - Dong Nai TTC Co, Ltd: 2,000 tons (registered price: 1,410,000 VND/ ton).

Thus, the total volume of sugar that was won by bidders was 28,000 tons/65,000 tons.

For refined sugar, there are 15 bidders having valid dossiers, of which, 2 bidders having invalid price offer tickets. As the result, there were 8 winners.

Specifically, Sanofi-Synthelabo Vietnam Pharmaceutical Company: 1,000 tons (registered price VND 1,610,000); Quang Ngai Sugar Joint Stock Company: 500 tons (registered price VND1, 600,000/ ton); Vinamilk Dairy Products Joint Stock Company: 20,000 tons (registered price VND 1,690,000-1,720,000/ ton); FES Vietnam Co, Ltd: 1,000 tons (registered price VND 2,000,000/ ton);

Unilever International Vietnam Co, Ltd: 1,000 tons (registered price VND 3,000,000/ ton); Red Bull Vietnam Co,Ltd: 1,000 tons (VND 1.700.000/ ton); URC Vietnam Co,Ltd: 4,000 tons (registered price VND 1,890,000-2,160,000/ ton); Lotte Vietnam Co, Ltd: 500 tons (registered price VND 1, 600,000 / ton).

At the bidding session, Deputy Minister of Industry and Trade Tran Quoc Khanh said, that in 2016 and 2017, the Ministry has successfully held bidding sessions on the right to use duty quota to import sugar. The bidding session on the right to use duty quota to import sugar in 2018 was conducted on the principle of publicity, fairness and transparency with the participation of boards, sectors, enterprises and press agencies.

Regarding the results of the bidding session, Mr. Le Xuan Trung- General Secretary of Vietnam Sugar Association said that the quota for refined sugar was 29,000 tons for all the units registered for buying. This showed that the refined sugar import as well as the floor price for quota registration was consistent.

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“For raw sugar, the bidding session was only implemented with 28,000/65,000 tons of quota. This has shown the current inventory of sugar. Many enterprises imported raw sugar for refinement. Vinamilk is the unit directly consuming sugar and has subsidiaries to refine sugar. Therefore, this is the enterprise buying the largest volume of raw sugar. The bidding session showed that the nature of current sugar production which is that sugar is inventory and needs better support for sugar industry,” Mr. Trung emphasized.

Previously, Official Letter No. 77/VPCP dated 10th July 2018, the Prime Minister agreed to apply regulations on the application of the tariff quota regime for sugar item under the ASEAN Free Trade Agreement by the end of 2019.