Vietnam won the bid to supply 200,000 tons of rice to the Philippines.

Information from the Ministry of Industry and Trade said that the Philippine National Food Authority (NFA) has just approved the decision to import 200,000 tons of rice (25% broken rice) from Vietnam under an intergovernmental agreement.

Previously, Vietnam and Thailand participated in the bidding to supply 500,000 tons of rice to the Philippines. Of which, Thailand offered the cheapest price with a volume of 300,000 tons, at a price of 475 USD/ton, while Vietnam offered a price of 479 USD/ton for a volume of 400,000 tons. The auction board of the Philippine National Food Authority announced to buy 300,000 tons from Thailand, and at the same time invited Vietnam to supply the remaining 200,000 tons at a price equal to Thailand's offer. This amount of rice is expected to be delivered between October 15 and December 15, 2014.

This is good news for rice exporting enterprises and the rice market in our country. Currently, rice prices are still under a lot of pressure and supply is still increasing because farmers in the Mekong Delta provinces will start harvesting the third rice crop at the end of this year./.

According to VOV