HANOI (February 06 2010): Vietnam will
import 280,000 tonnes of raw and refined
sugar this year, more than double the
110,000 tonnes imported in 2009, to help
hold down prices on the domestic market, a
state-run newspaper reported on Friday.
Vietnam is a small sugar producer, with
output of around 1 million tonnes a year,
and industry officials have forecast demand
of 1.3 million tonnes in 2010.
Domestic prices of the sweetener have nearly
doubled in the past three months, rising to
20,000-21,000 dong ($1.08-$1.13) per kg from
11,000-12,000 dong in late 2009. The
government has approved imports in three
phases this year, the Hanoi Moi daily said,
quoting an Industry and Trade Ministry
report. It did not give any dates for the
imports or name any sellers.
In the first phase, the country would buy
150,000 tonnes, destined mainly for makers
of confectionery and dairy products,
including 5,000 tonnes of raw sugar, the
daily said. The next 100,000 tonnes would go
to processors and be sold partly on domestic
markets, it said, adding the final 30,000
tonnes would come in the third phase.
Copyright Reuters, 2010
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