HA NOI – The Viet Nam Southern Food Corporation has won a contract to supply 100,000 tons of rice to the Philippines for the high price of $400 per ton, a government press release said.

According to the Philippines National Food Authority, it selected Vinafood 2 for the deal because its price is much lower than that quoted by Thailand. Shipments are due next month.

Vinafood 2 also expected to secure another contract with the Philipines for an additional 20,000 tons of rice.

In the past, the Philippines regularly imported rice from Vietnam under the two governments' agreements.

However, over the last two years, the country has changed its policy on contracts and now also allows the private sector to find trade partners themselves to get more competitive prices, the press release said.

The Philippines this year will import a total of 500,000 tons of rice, of which 120,000 tons have been allotted to the NFA, while private traders and farmer groups will import the remaining 380,000 tons.

Vietnam exported 788,296 tons of rice last month, the highest monthly amount since January 2010, lifting the country's rice exports in the first five months of this year to 2.5 million tons.

The ministry is expecting 6.25 million tons of rice to be shipped abroad this year, up 16 per cent more over last year, the press release said.*

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