New 300,000-ton agreement on top of 550,000 tons already exported to the country.
The Philippines Food Authority (NFA) has announced that enterprises in the country can now import an additional 293,000 tons of rice from Vietnam and Thailand and 50,000 tons from China and India.
According to rice exporters this is good news for Vietnam’s rice industry, which is experiencing difficulties in the Chinese market as the country cuts its rice imports, while Africa is increasing it rice purchases from Thailand.
Since the beginning of the year the Philippines has bought 750,000 tons in total, of which 550,000 tons has come from Vietnam and 200,000 tons from Thailand, under intergovernmental agreements.
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, with an agreement signed with the NFA.