Ex­tra 45pc duty on sugar im­ports

New Straits Times - - Business | World -

BEI­JING: China said yes­ter­day it will im­pose hefty penal­ties on sugar im­ports af­ter lob­by­ing by do­mes­tic mills, but ex­perts said the rul­ing may not go far enough to stem the flow of lower-priced sweet­ener into the world’s top im­porter.

The rul­ing, which will af­fect about a third of China’s an­nual sugar im­ports, in­tro­duces an ex­tra tar­iff on ship­ments over a three-year pe­riod, which will fall slightly each year.

In the short term, it will in­flict a blow on top grow­ers Thai­land and Brazil, as it will close the big gap be­tween Chi­nese and in­ter­na­tional prices. Chi­nese sugar prices are around dou­ble those on the Lon­don mar­ket.

But traders said the higher tar­iffs

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