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Vietnam wins rice export contract to the Philippines

The Southern Food Corp. (Vinafood 2) has won a contract over Thailand to export 187,000 tons of 25 percent broken rice to the Philippines, director of the Vietnam Food Corporation Truong Thanh Phong said on April 11.

The Philippines invited bids for the contract on April 3 to purchase 187,000 tons of rice, which will be exported to the country from April to June, Tuoi Tre newspaper reported Friday.

Price of the rice according to the contract is US$459.75 per ton, which is higher than the global market price, hovering around US$365 a ton

The trade is hoped to raise local rice prices during the coming months, according to the Vietnam Food Corporation