Vietnam to export 450,000 tonnes of rice to Manila – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports
| The rice is packed in a factory of the Song Hau Food Company in the Tra Noc 1 industrial zone of Can Tho city. Viet Nam will ship 450,000 tonnes of rice to the Philippines this year and early next year. – VNA / VNS Photo Dinh Hue |
HA NOI (VNS) – Viet Nam has won a Philippine contract to export 450,000 tonnes of broken rice at 25 percent, said Pham Van Bay, vice president of the Vietnamese Food Association.
Bay told Viet Nam News that around 250,000 tonnes of rice will be shipped to the Philippines this year, including 125,000 tonnes in November and 125,000 tonnes in December. The rest will be sent to the country early next year.
The price will be US $ 426.6 per tonne, which is $ 77 less than the price given by the National Food Authority (NFA) of the Philippines.
The auction was organized Thursday by the NFA in Quezon City, Philippines. The NFA has decided to import a total of 750,000 tonnes of broken rice at 25%, including 250,000 tonnes for this year and 500,000 tonnes for 2016.
The decision is in part due to the El Niño weather phenomenon which is expected to worsen by October and last until spring until the end of May next year.
The additional purchase of rice by the Philippines is expected to raise the export price of rice, which has fallen in recent months.
The Philippines is a major market for Vietnamese rice exporters. This country bought more than 500,000 tonnes of rice between January and July of this year.
The Vietnam Food Association said Viet Nam exported 3.818 million tonnes of rice between January and August 31. – VNS
