Philippines stops purchase of rice after Vietnam resumes exports

Vietnam Philippines riceThe Philippine has dropped a plan to import up to 300,000 tonnes of rice from governments

The decision comes after Vietnam, the main rice supplier of the Philippine, has resumed selling grains.

As reported in the Reuters, the Philippines had planned to import under a government-to-government scheme.

Philippine International Trading Corp (PITC) issued a tender to import 25 per cent broken, well-milled long grain white rice, with bids from India, Thailand, Vietnam and Myanmar opened on 8 June.

Myanmar tops with an offer of US$489.25 per tonne for a volume of 33,000 tonnes and US$494.25 per tonne for a separate volume of 42,000 tonnes on the basis of ranking qualified bids, the cource added.

According to the source, other bids including those from India and Thailand were rejected.

Vietnam resumed its rice exports from May after a brief suspension due to the COVID-19 pandemic. The Philippines imports around seven per cent to 14 per cent of its rice requirements, with 90 per cent coming from its southeast Asia neighbours.

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