Illustrative photo.

The Council for the Allocation of Tariff Quota through the auction method in 2024 has announced the allocation of import sugar tariff quota for relevant traders, organizations and individuals to follow.

Traders using raw sugar as a manufacturing material and traders using raw sugar to produce refined sugar may request for the allocation of the import sugar tariff quota via the auction method (as per provisions of Article 3 of Circular No. 11/2022/TT-BCT dated June 27, 2022 of the Ministry of Industry and Trade).

Accordingly, traders using raw sugar for the production of refined sugar are only allowed to request for the allocation of the import sugar tariff quota for raw sugar products via the auction method in 2024. Traders directly using sugar as a manufacturing material are only allowed to request for the allocation of the import sugar tariff quota for refined sugar via the auction method in 2024.

The allocated import tariff quota for sugar (HS code 17.01) through the auction method in 2024 is estimated at 126,000 metric tons.

The starting price is VND 2,100,000 per ton; Bid increment is VND50,000 per ton; the advance payment; the advance payment: (starting price x quantity of sugar registered for the allocation of import sugar tariff quota) x 10%.

The time for the allocation of the import sugar tariff quota through the auction method in 2024 on September 20, 2024.