Philippines to accept applications from traders to import Rice

Philippine to import Rice

MANILA: The Philippines’ state grains agency said on Thursday it is set to accept applications from private traders to import up to 805,200 tonnes of rice, more than two-thirds of which must come from Thailand and Vietnam.

The National Food Authority (NFA), the agency regulating rice importation, said traders can ship in up to 293,100 tonnes each from Thailand and Vietnam, with the rest to come from other countries not later than Feb 28, 2017.

The additional demand from the Philippines, one of the world’s biggest rice buyers, could underpin export prices from the two countries.

Thailand and Vietnam, the world’s second- and third-largest rice suppliers after India, last month won supply contracts from the Philippines’ NFA for 100,000 tonnes and 150,000 tonnes, respectively.

Source: Reuters

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