The 20-year journey of Vietnam Economic Times
Vietnam has won a bid to export 450,000 tons of rice to the Philippines at auctions held by its National Food Authority (NFA) on September 17 in Quezon city.
NFA said it has completed a tender for imports totaling 750,000 tonnes, of which 250,000 tonnes is for this year and 500,000 tonnes for 2016, to counter the effects of the El Niño weather system on its harvest.
Vietnam won the bid after deciding to sell the 450,000 tons of rice at $4,426.6 per ton, for a total of $191.97 million.
Thailand also agreed to provide 300,000 tons of rice to the Philippines at the same price.
The first 125,000 tons will be delivered to the Philippines in November, with a second 125,000 tons due for delivery by the end of December.
The additional 370,000 tons will be divided in two parts and will be sent to the country by the end of January and February, while the remaining 150,000 tons will be delivered by the end of March. I’m confused – 125,000 tons will be delivered in November and December, totaling 250,000, then 370,000 tons in total in January and February, then the “remaining” 150,000 tons in March? It doesn’t add up to 450,000
Vietnam previously won a bid for 150,000 tons of rice exports to the Philippines in a tender that opened on June 5, after agreeing to cut its price.