Philippines to import 250,000 tonnes of rice from Vietnam or Thailand
The Philippines is considering an emergency purchase of up to 250,000 tonnes of rice from Vietnam or Thailand to ensure enough rice for domestic consumption during months of bad harvest.
Philippines to import 250,000 tonnes of rice from Vietnam or Thailand - Illustrative image (Source: VNA)
Hanoi (VNA) – The Philippines is considering an emergency purchase ofup to 250,000 tonnes of rice from Vietnam or Thailand to ensure enough rice fordomestic consumption during months of bad harvest.
According to the Philippines’ National Food Authority (NFA),officials concerned are in the process of reference for the emergency purchase.
Under a new decree of President Rodrigo Duterte, thestate-run grains agency may resort to alternative methods of procurement,especially during emergency cases. Therefore, the NFA said that whoever canbring in the rice requirement the fastest and the cheapest will be awarded thesupply contract.
Duterte on April 5 met with rice traders to appeal to themnot to hoard rice or sell the grains at higher price.
Rice traders promised to sell white rice at a price lowerthan the current market price and provide market with 700,000 sacks ofrice.-VNA
Rice exports of Thailand in 2018 will be less than the target growth of 9.5 percent due to strong baht and decrease in rice production, said the Thai Rice Exporters Association (TREA).
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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Philippines to import 250,000 tonnes of rice from Vietnam or Thailand - Illustrative image (Source: VNA) 
