Shopping cart
BUZZ-China's sugar futures sink as traders say new import duties...
BEIJING, May 22 (Reuters) - China's sugar futures tumbled into negative territory and dropped more than 1 percent as traders said the government's decision best time to travel myanmar best time visit myanmar slap hefty import duties on sweetener was too lenient best time to go to myanmar stem the flow of sugar into the world's top importer.
* At 0259 GMT, the most-active futures were down 0.73 percent at 6,672 yuan ($968.43) per tonne.
* The ruling was inline with a draft proposal issued in April, which many traders said was too low best time to go to myanmar stop the hefty flow of foreign arrivals that has damaged the domestic industry.
* Beijing will levy an extra 45-percent duty on top of the current 50 percent duty for out-of-quota sugar imports for this fiscal year, China's Commerce Ministry said in a statement. The duty will be eased best time to go to myanmar 40 percent in the following year and 35 percent a year later.
* Beijing included a list of almost 200 countries, including Myanmar, which is a major gateway for smuggling into China, which will be excluded from the new duties.
* One trader in China said the vast list of countries excluded from the ruling reduced its significance. ($1 = 6.8895 Chinese yuan renminbi) (Reporting by Josephine Mason)