Business

Vietnam exports more rice to Philippines

Vietnam has won a contract to export 187,000 tonnes of 25-percent broken rice to the Philippines . It will ship the rice between April and June this year, according to the Vietnam Food Association (VFA).
Vietnam has won a contract to export 187,000 tonnes of 25-percentbroken rice to the Philippines . It will ship the rice between Apriland June this year, according to the Vietnam Food Association (VFA).

With a price of 459.75 USD per tonne, higher than the market averageof 365 USD, VFA hopes that the contract will help increase the domesticprice of rice in the coming time despite the current saturated market.

In the second quarter of this year, 2.2 milliontonnes of rice is expected to be exported, including an estimated800,000 tonnes in April alone.

Vietnam hasharvested a huge number of rice export contracts, which will amplifyexports in the next two months, said the VFA.-VNA
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