Vietnam probes into high-fructose corn syrup imported from China, South Korea

SGGP
Due to suspicion that liquid sugar products extracted from corn starch originating from China and South Korea showed signs of dumping in the Vietnamese market, the Ministry of Industry and Trade (MoIT) decided to investigate to impose anti-dumping duties to protect domestic enterprises.
In the afternoon on August 27, the office of the MoIT informed the press that the Trade Remedies Authority under the MoIT sent a questionnaire to all enterprises manufacturing and exporting liquid sugar products refined from corn starch from foreign countries into Vietnam, which the investigation agency was informed.

The deadline to answer the questionnaire is before 5 p.m. Vietnamese time on October 2 this year, according to the MoIT.

Earlier, the MoIT promulgated Decision No.1715/QD-BCT to launch an anti-dumping investigation on some high-fructose corn syrup (HFCS) products originating from China and South Korea.

‘To ensure their rights and interests, the Trade Remedies Authority under the MoIT requests all relevant foreign manufacturers and exporters to participate and cooperate fully throughout the investigation process,' the MoIT announced. It added that the contents of the answer sheets will be the basis for the investigation agency to consider and draw the conclusion of this case.

In case that the investigation agency does not receive the reply on time or the information provided is inaccurate or incomplete as required, the investigation agency of Vietnam will use the available information to conclude following Article 75 of the Law on Foreign Trade Management.

According to the General Department of Vietnam Customs, the import volume of HFCS into Vietnam had increased continuously in recent years from 82,000 tons in 2017 to 150,000 tons in 2018 and continued to increase to 190,0000 tons in 2019. This type of liquid sugar imported from China is extremely cheap. Although it is made from corn, it is processed to increase sweetness, so it is produced at poor quality. Therefore, it not only devaluates and threatens the sugar industry in Vietnam but also can be hazardous to the health of consumers.

By Van Phuc – Translated by Gia Bao

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