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Vietnam beat Thailand in bid to supply rice

Staff writer |
Vietnam submitted the lowest price to supply 500,000 tonnes of rice to the Philippines, beating Thailand's offer for grain to boost stocks depleted by Typhoon Haiyan, Manila's grain procurement agency said.

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Vietnam, the world's second-biggest rice exporter after India last year, offered to deliver the entire volume within three months at $462.25 per tonne, with a first shipment of at least 120,000 tonnes by December 31.

Thailand had offered rice at $475 per tonne while Cambodia, the third country allowed to participate in the bidding, failed to submit an offer.

The tender involved government representatives of the three countries, unlike previous bidding where private suppliers had been allowed to participate. Both Vietnam and Thailand offered to supply the 25 percent broken, long grain, well-milled rice variety.

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