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Economy

China sets 2016 sugar import quota

1
2015-10-20 09:26Global Times/Agencies Editor: Li Yan

China will maintain its low-tariff import quota for sugar at 1.945 million tons in 2016, unchanged from this year, the Commerce Ministry said on Monday.

Seventy percent of the quota is allocated to State-owned trading companies.

Importers without low-tariff quotas must pay a 50 percent tariff. Despite the large duty, out-of-quota imports have surged in recent years because of a large gap between domestic and international sugar prices.

  

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