Friday, 18 December 2009

Vietnam to export more rice to the Philippines in 2010

http://www.gov.ph/index.php?option=com_content&task=view&id=2002528&Itemid=1

HANOI (PNA/Bernama) -- Vietnam has won additional contracts to export rice to the Philippines at higher prices, following the latest auction on Tuesday, bringing the total of rice auction volume over the last four bids to 1.3 million tons of rice, Vietnam News Agency (VNA) reported.

At the Philippine government rice auction on Tuesday, the Southern Food Corporation (Vinafood 2) won export contracts for 600,000 tons of rice at an average export price of US$ 665 per ton.

Cao Thi Ngoc Hoa, the corporation's deputy general director, said the winning bid was the largest export rice volume the corporation has won over the four auctions that the Philippine government recently held.

Enterprises from Thailand, Germany, France and the Republic of Korea failed in their bids because they offered export prices at more than US$ 700 per ton, said Hoa.

At the auction on December 8, the corporation also won contracts to export a total of 300,000 tons of rice at an average export price of US$ 650 per ton.

While at the auction on December 1, the Vietnamese rice exporter won contracts to export a total of 300,000 tons of 25 percent broken rice to the Philippines to be delivered from February to May 2010 at an average price of US$ 625 per ton, higher than US$ 480 at the auction on November 4.

The corporation currently has contracts to export 1.3 million tons of rice to the Philippines in 2010 as a result of the four auctions.

The Ministry of Agriculture and Rural Development said Vietnam exported 5.7 million tons of rice in the first 11 months of this year, earning US$ 2.3 billion. The figures jumped by 31.9 percent in volume but fell 7.12 percent in value compared with the same period last year.

Vietnam is expected to export a record 6-6.2 million tons of rice this year.

The ministry estimates it will have a total unhusked rice output of 38.9 million tons for this year, higher than the output of 38.6 million tons in 2008. (PNA/Bernama)

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