According to the Vietnam Food Association (VFA), Vietnam has won the bid for selling 187,000 tons of rice to Philippines, where the participants were Vietnam and Thailand. The bidding was held in April and the rice was sold at US $ 459.75 per ton and to be delivered by June.;
The offered prove for Vietnam’s 25% broken rice was at US$355-365 per ton as on Thursday, which was about US$30 lower than the rice of India and US$170 lower than that of Thailand.
VFA Chairman Truong Thanh Phong has commented during a review meeting last week that enterprises should not randomly sign commercial contracts with Philippine importers to avoid conflict for the bidding joined by the government. This big export contract may cause the steep increase in the Vietnam’s exporting prices.
U.S Department of agriculture (USDA) has also forecasted that Philippines will import about 1.2 million tons of rice this year, but the Philippines National Food Authority said that it will import only 187,000 tons.