Vietnam won the contract to export 60,000 tons of rice to the Philippines
Philippines only closed the deal to purchase 189,000 tons of rice, in which, Vietnam won a tender to export 60,000 tons at USD 497.3 per ton, including 45,000 tons to be delivered at Manila port and 15,000 tons to be delivered at the Davao port in the Philippines.
According to the Vietnam Industry and Trade Information Center (Ministry of Industry and Trade), the Philippines has just opened a 300,000-ton government-to-government (G2G) rice tender with the participation of Vietnam, India, Thailand, and Myanmar.
This is the first bid in the form of G2G since the liberalization of the Philippines’s rice industry.
The Philippine International Trade Corp. (PITC) has been awarded USD 149 million by the government of this country for rice purchase.
Notably, in this bid package, the Philippines needs to buy 25% broken rice, the reference price is USD 497.62 per ton, delivered at the ports of Manila, Cebu, Tacloban, Zamboanga and Davao.
It is expected that the first 150,000 tons of rice will be delivered before July 14, the rest will be delivered before August 14. At the aforementioned G2G online bidding, four countries including Myanmar, Thailand, Vietnam and India submitted bids.
Also according to the Vietnam Industry and Trade Information Center, the Philippines only closed the deal to purchase 189,000 tons of rice, in which, Vietnam won a tender to export 60,000 tons at USD 497.3 per ton, including 45,000 tons to be delivered at Manila port and 15,000 tons to be delivered at the Davao port in the Philippines.
Along with that, India won the most from the bid, with 96,000 tons including 42,000 tons to be delivered at the port of Cebu (484.7 USD per ton); 7,500 tons to be delivered at Tacloban port (USD 485.7 per ton); 24,000 tons to be delivered at Zamboanga port (484.7 USD per ton) and 22,500 tons to be delivered at Davao port (485.7 USD per ton).
Myanmar won the bid with 33,000 tons, to be delivered at Manila port, with a price of USD 489.3 per ton. Particularly, Thailand did not win any bid package because the bidding price exceeded the budget amount set forth by the Philippines.
Vietnam Industry and Trade Information Center said the Philippines imported 300,000 tons of rice this time to supplement its reserves for domestic consumption, especially in the context that the COVID-19 pandemic had certain impacts on the country.
The country's import under the intergovernmental mechanism is due to the fact that many businesses have not yet finished delivery for private contracts signed earlier with the Philippines partner, while the intergovernmental contracts have higher volumes and delivery times.
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