Philippines to import 250,000 tonnes of rice from Vietnam or Thailand

Philippines to import 250,000 tonnes of rice from Vietnam or Thailand - Illustrative image (Source: VNA)

Hanoi (VNA) – The Philippines is considering an emergency purchase of up to 250,000 tonnes of rice from Vietnam or Thailand to ensure enough rice for domestic consumption during months of bad harvest.

According to the Philippines’ National Food Authority (NFA), officials concerned are in the process of reference for the emergency purchase.

Under a new decree of President Rodrigo Duterte, the state-run grains agency may resort to alternative methods of procurement, especially during emergency cases. Therefore, the NFA said that whoever can bring in the rice requirement the fastest and the cheapest will be awarded the supply contract.

Duterte on April 5 met with rice traders to appeal to them not to hoard rice or sell the grains at higher price.

Rice traders promised to sell white rice at a price lower than the current market price and provide market with 700,000 sacks of rice.