This move is to ensure food demand of the Philippines during the 2017 between-crop period. VFA Chairman Huynh The Nang said that this is a chance for Vietnamese businesses to boost rice consumption which is gloomy now.
In late August 2016, Vietnam won a bidding to provide 150,000 tons of rice for Philippines at a price of 424.85 USD per ton
The Philippines firms are also allowed to buy a similar amount of rice from Thailand and 50,000 tons from China, India, Pakistan and other countries, with a total volume of 805,200 tons. The time for delivery is set before February 28, 2017.