http://www.mb.com.ph/vietnams-eyes-philippines-rice-demand/
from Manila Bulletin
from Manila Bulletin
Vietnam is now eyeing the Philippines’ plan to import as much as 800,000 tonnes of rice via a government-to-government deal in a tender that may be held before the end of March.
Purchases by one of the world’s top rice buyers could support Asian prices of the grain, with Vietnam and Thailand likely to compete aggressively for any new deal.
Vietnam’s 5 percent broken rice edged up to $380-$385 a tonne, free-on-board basis, on Monday from $370-$375 last week, thanks to the government’s approval of the stockpiling plan and the possible purchase by the Philippines, traders said.
Several traders in Vietnam said Manila could open the tender this week, but a spokesman at the National Food Authority, the Philippines’ state grains procurement agency, said it was still waiting for government approval and has yet to finalise any dates.
Manila, the biggest buyer of Vietnamese rice so far this year, is expected to take delivery of the grain between April and June, a trader in Vietnam said, before the Philippines’ lean growing season from July to September.
The winter-spring crop in southern Vietnam, incorporating the Mekong Delta food basket, is expected to yield 11.7 million tonnes of paddy, up 1 percent from last year, according to the Agriculture Ministry.
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