Philippines awards rice supply contract to Vietnam

The National Food Authority has awarded to Vietnam a contract to supply the Philippines with 250,000 metric tons of rice for buffer stock, the Vietnam News Agency has reported.

A notice to proceed was authorized by the NFA Council today (July 25).

The terms of references stipulate the delivery of well-milled white rice with 25% broken in the months of August and September.

Rice stocks in the Philippines, one of the world’s largest rice importers, have dipped to the lowest level in three years, and are enough to meet the demand for just six days the NFA had earlier announced.

This is the first Philippine rice contract awarded this year.