Vietnam To Export Rice To Philippines

HANOI, Feb 4 Asia Pulse – Vietnam won a contract this week to export 300,000 tonnes of rice to the Philippines.

Vietnam’s six suppliers, led by State-owned Vietnam Southern Food Corp (Vinafood) took part in the tender. Other than the Vietnamese exporters, six suppliers from Thailand, India, Pakistan, China, the US and Australia also bid for the tender.
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In the tender, the Philippine National Food Authority planned to buy 550,000 tonnes of 25 per cent broken rice for shipment between February and April this year. The average price of Vietnam’s 25 per cent broken rice is currently US$320 per tonne and US$340 per tonne for 5 per cent broken rice.

The Philippines is expected to buy 1.6 million tonnes of rice this year, with a previous import volume of 1.87 million in 2007. So far this year, Vietnamese enterprises exported 700,000 tonnes of rice to its primary importers who are the Philippines and countries in the Middle East and South America, according to the Ministry of Agriculture and Rural Development.
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Adding the volume of this recent contract, the country will have sold one million tonnes of rice abroad in January.

Vietnamese rice has been exported to more than 70 countries and territories around the world including demanding markets such as the EU, the US and Japan. In 2007, Vietnam was second among the world’s rice exporters, trailing only Thailand, with an export volume of 4.3 million tonnes and grossing more than US$1.4 billion in export turnover, according to the Ministry of Industry and Trade.