Philippines may buy more rice from Vietnam

The director of a big rice export enterprise in the Mekong Delta region told the Daily that the NFA rejected the bids of Vietnam, Thailand and Cambodia at a rice tender on Tuesday as they were higher than the agency’s expected price of US$408.14 a ton.

He said the NFA then decided to allow the three nations to offer new bids but

Thailand quit as the price of US$408.14 a ton was too low. Vietnam offered to sell 100,000 tons at US$416 per ton, down US$1 against the previous bid while Cambodia lowered its bid to US$455.5 a ton for a batch of only 50,000 tons, down US$8.5 per ton compared to the bid at the tender on Tuesday.

Though Vietnam’s new bid of US$416 a ton is still higher than the NFA’s planned price, the agency may decide to buy rice from Vietnam.

The Philippines has imported 650,000 tons of rice under government-to-government contracts in the year to date, including 450,000 tons from Vietnam and 200,000 tons from Thailand.

Source: Saigontimes