Vietnam wins bid to supply rice to the Philippines

Vietnam has won a tender offered by the Philippines to export 60,000 tonnes of rice to the partner country at a higher price than that of countries which won the bid.

Vietnam will ship 60,000 tonnes of rice to the Philippines at US$497 per tonne

The Philippines invited tenders for a project to purchase 300,000 tonnes of rice for national reserves to ensure national food security amid the impact of the novel coronavirus.

India, Thailand, Myanmar and Vietnam submitted their bids, and only Thailand failed to win the contract.

India is set to supply 96,000 tonnes at an average price of US$485 per tonne while Vietnam is projected to ship 60,000 tonnes priced at US$497 per tonne. Myanmar is to sell 33,000 tonnes for US$489 per tonne.

Representing Vietnam at the bidding process, the Northern Food Corporation (Vinafood 1) is to deliver rice to the Philippine International Trading Corporation.

The Philippines is said to invite tenders for an additional 110,000 tonnes in the coming time.