Vietnam's Rice Export Prices to the Philippines Hit New Roof

Vietnamese companies have won contracts to export 185,000 tons of rice to the at higher prices in the country’s tender for 550,000 tons on March 11.

Of the total rice, Vietnamese companies will export 12,500 tons of 5 per cent broken rice for US$745 a ton, cost and freight (CFR), double the prices in the tender held in January this year, and 12,5000 tons of 15 per cent broken rice for US$738 a ton, CFR.

Some 160,000 tons of 25 per cent of broken rice are also included in the contracts.

Almost all of the rice will be delivered from March until May 2008.

The contracts will bring ’s total rice contracted for exports to the to more than 800,000 tons.

The plans to import 2.1 million tons of rice for this year. The foreign country has called on to sell 1.5 million tons of rice. But the Vietnamese government said it will ship around one million tons in order to ensure national food security.

(Youth)