Vietnam to sell 200,000 tonnes of rice to Philippines

Vietnam has won a contract to provide 200,000 tonnes of rice for the Philippines, according to the country’s National Food Authority.

Vietnamese Ministry of Industry and Trade said the rice the Philippines plans to import from Vietnam is classified as 25% broken rice.

This order is expected to be delivered between October 15 and December 15, at a price of US$475 per tonne. The Philippines will also buy 300,000 tonnes of rice from Thailand.

Illustration photo (Photo: Thai Thien)

According to the Ministry of Agriculture and Rural Development, Vietnam’s rice exports in August were estimated at 584,000 tonnes, worth US$267 million.

During the first eight months of 2014, Vietnam shipped 4.44 million tonnes of rice, earning US$2.01 billion, representing drops of 9% in volume and 5.3% in value compared with the same period last year.

China was the largest consumer of Vietnamese rice, accounting for 36.18% of Vietnam’s total rice exports, data in the seven months of 2014 showed.

Latest figures from the Vietnam Food Association showed that Vietnam shipped more than 127,500 tonnes of the grain during September 1-11, generating revenue of US$52 million.

Vietnam set a target to export 6.2 million tonnes of rice for the whole of 2014.

(Source: nhandan.org.vn)