China keeps sugar import quota unchanged
(Xinhua) Updated: 2014-10-15 17:11BEIJING -- The Ministry of Commerce (MOC) on Wednesday set the 2015 import quota for sugar at 1.95 million tons, 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 tons in 2011, 3.75 million tons in 2012 and 4.55 million tons last year.
Imports last year were equal to about one-third of domestic sugar output.
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