Vietnam wins contract to supply 800000 tons of rice to Philippines

Vietnam wins contract to supply 800000 tons of rice to Philippines

2014-04-18 11:48 |
source: China Grain Network |

vietnam's Ministry of Agriculture and Rural Development quoted the Vietnam Food Association as saying that Vietnam has won a contract to supply 800000 tons of white rice with a crushing rate of 15% in the Philippines. The tender will likely be won by the South Vietnam Food Company, which offered the lowest price at the tender.

The U.S. Department of Agriculture expects Vietnam to export about 7.5 million tons of rice in 2014, an increase of about 10% over the previous year. So far this year, however, rice exports have been lower than in the same period last year. Between January 1 and April 10, Vietnam exported 1.3 million tons of rice, 38% less than the same period last year. The Vietnam Food Association expects rice exports in the second quarter to be 200 to 2.4 million tons. Currently, rice prices in Vietnam are low because of high supply and weak export demand.