HÀ NỘI — Five businesses have won the right to import a total of 100,000 tonnes of sugar worth VNĐ250 billion (US$10 million), following an auction held by the Ministry of Industry and Trade (MoIT) for the 2025 sugar import tariff quotas on Monday.

Each business secured a quota to import 20,000 tonnes, valued at around VNĐ45 billion.

The successful bidders include Vietnam Sugar Joint Stock Company, Vietnam Sugarcane Joint Stock Company, Thanh Thanh Cong – Bien Hoa Joint Stock Company, Agris Tây Ninh Joint Stock Company and Agris Ninh Hòa Import Export Joint Stock Company.

According to the MoIT, the allocation of these quotas is an annual measure aimed at meeting international commitments, maintaining market balance between supply and demand, and fostering transparency among importers.

Data from the Vietnam Sugarcane and Sugar Association (VSSA) shows that total sugarcane production for the 2024–2025 season is estimated to exceed 13.34 million tonnes, while sugar output is expected to reach around 1.37 million tonnes, up about 8.24 per cent from the previous season.

As of August, Việt Nam had exported 250,000 tonnes of sugar and imported around 640,000 tonnes. With an average monthly import of about 80,000 tonnes, total sugar imports are expected to reach 720,000 tonnes by the end of the third quarter.

However, the domestic sugar industry is facing growing competition from high-fructose corn syrup (HFCS). Imports of liquid HFCS from China and South Korea surged in the first eight months of this year, reaching 260,000 tonnes.

With HFCS priced 20–25 per cent lower than cane sugar, many food and beverage producers have switched to using it, adding further strain to the market.

Experts noted that as domestic production recovers, the market is now experiencing oversupply and rising stockpiles. By the end of August, sugar inventories at businesses had reached about 470,000 tonnes, according to the Ministry of Agriculture and Environment.

The MoIT’s decision to auction and allocate 100,000 tonnes of sugar import quotas at this time is therefore seen as a measure to regulate official import sources, help businesses secure stable raw material supplies, and prevent illegal imports and unfair competition from HFCS. — VNS