Vietnam wins Philippine rice export deal

TN News

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The Ho Chi Minh City-based Southern Food Corp (Vinafood 2) has beaten off Thai rivals to win a contract to export 187,000 tons of 25 percent broken rice to the Philippines, director of the Vietnam Food Corporation, Truong Thanh Phong, said.

The Philippines invited bids on April 3 for shipments to be made between April and June, Tuoi Tre newspaper reported.

The contract price is US$459.75 per ton, higher than the global price, which is hovering at around US$365.

The deal is expected to push rice prices up in the Vietnamese market, according to the Vietnam Food Corporation.

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