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PHILIPPINES ACCEPTS FRESH 203,000T RICE SUPPLY OFFERS FROM VIETNAM, THAILAND

  • Nov 29, 2018

MANILA, Nov 28 (Reuters) –

* The Philippines’ state grains agency National Food Authority (NFA) on Wednesday accepted rice supply offers totalling 203,000 tonnes from Vietnam and Thailand in fresh government-to-government deals

* Thailand offered 80,000 tonnes of well milled, long grain white rice of 25 percent broken grade at $469.80 per tonne, slightly below the NFA’s budget of $470.00 per tonne

* Vietnam won a bigger 123,000-tonne supply deal at the revised price of $469.80 per tonne, matching Thailand‘s bid after it initially offered 170,000 tonnes at $470.00 per tonne

* All deliveries should be completed in December

* Wednesday’s import tender is the last this year for the Philippines, following a buying spree to boost thin state stockpiles and bring down high retail prices

* The Philippines, one of the world’s biggest rice buyers, is set to remove import caps on the grain in a policy revamp expected to take effect next year (Reporting by Enrico dela Cruz; Editing by Rashmi Aich)

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