Vietnam has won a bid to supply 130,000 tonnes of rice to the Philippines after the National Food Authority (NFA)’s auction on importing 250,000 tonnes.
Hanoi (VNA) - Vietnam has won a bid to supply 130,000 tonnes of rice tothe Philippines&꧑nbsp;after the National Food Authority (NFA)’s auction onimporting 250,000 tonnes.
The remaining 120,000 tonnes will be supplied by Thaiproducers.
According to NFA, Vietnam will supply 50,000 tonnes of15 percent broken rice to the Philippines at 526.5 USD per tonne and80,000 tonnes of 25 percent broken rice at 517.5 USD per tonne.
Vietnamese and Thai enterprises will deliver 100,000 tonnesof 25 percent broken rice from now until May 31. The deadline for thesupply of rice from Vietnam and Thailand is May🐠 16 for 25 percentbroken rice and June 30 for 15 p🐼ercent broken rice.
NFA said it would open another auction on importing riceon May 22.
According to the Ministry of Industry and Trade, Vietnam’srice export value in the first four months reached 1.092 billion USD, a year-on-yearincrease of 38.3 percent. This result was possible in the beginning of the yearwhen Vietnam won contracts to export rice to large markets.
Indonesia opened two auctions on importing rice in thefirst quarter of 2018 after two years. The first auction was in January, where Vietnamwon a bid to supply 141,000 tonnes. In the second auction in April, the countrywon an export contract of supplying 300,000 tonnes to Indonesia. Deliverytime for the rice exports is from May to July.
The export value of rice has also increased sharply this yearbecause of the high demand in China and the Philippines. Iraq isalso emerging as one of the strong importers of Vietnamese rice.
According to the Vietnam Food Association, the export volumeof rice this year is expected to reach some 6.5 million tonnes. Of this, about2.7 million tonnes will be shipꦅped to China, 800,000 toꦺnnes to the Philippines,800,000 tonnes to Indonesia, 500,000 tonnes to Malaysia, 200,000 tonnes to Iraqand 1 million tonnes to Africa.-VNA
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Illustrative image (Source: VNA) 
