China keeps sugar import quota unchanged

GMT 10:00 2014 Wednesday ,15 October

Arab Today, arab today China keeps sugar import quota unchanged

Sugar import quota unchanged
Beijing - XINHUA

The Ministry of Commerce (MOC) on Wednesday set the 2015 import quota for sugar at 1.95 million tonnes, remaining unchanged from the past decade.
China has kept the same sugar import quota according to the World Trade Organization rules since 2004, even after becoming the world's major sugar consumer in recent years.
According to the MOC, 70 percent of the quota will be assigned to state-owned traders.
Imports by companies with quota licenses are subject to a favorable tariff of 15 percent, while importers without a quota license will face a minimum duty of 50 percent.
Customs data showed China's sugar import volume has been growing since 2011, reaching 2.92 million tonnes in 2011, 3.75 million tonnes in 2012 and 4.55 million tonnes last year.
Imports last year were equal to about one-third of domestic sugar output.


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