Vietnamese firms win rice supply deals to Philippines
Vietnamese firms win rice supply deals to Philippines
The Philippines' National Food Authority (NFA) has awarded the supply contract for 800,000 tonnes of rice this year to two Vietnamese state firms, local media reported.
NFA said on April 28 that the supply contract for 600,000 tonnes of rice was awarded to state-owned Vietnam Southern Food Corp., or Vinafood 2, while the remaining 200,000 tonnes was given to Vietnam Northern Food Corp. or Vinafood 1.
Vinafood 2 won the contract with selling prices of US$436.50 per tonne, $437.75 per tonne, and $439.25 per tonne of rice for three lots of 200,000 tonnes each.
Meanwhile, Vinafood 1 secure the contract for the supply of 200,000 tonnes of rice, with selling prices of $436 per tonne and $439 per tonne for two shipments of 100,000 tonnes each.
The winning bidders are required to deliver the 15 percent broken rice between May and August this year, thus helping boost NFA's stockpiles in time for the lean harvest season in the third quarter.
The Vietnamese companies submitted the lowest offers during the bidding held on April 15, besting the bids of other foreign traders, including Louis Dreyfus Commodities Asia Pte. Ltd., Thai Hua Co. Ltd. and Singsong Hongkong Ltd.
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