Developing Countries Will Lead Global Rice Import Growth in 2013-22, Says USDA Rice growers positive California MG prices are UP Russia MG Harvest coming to end Egypt open rice exports Vietnam’s rice export in tough competition with India Thai rice exports in May Rise Above Target This Year Viet-Nam Rice exports likely to fall this year
Australia Medium Grain Rice #1 $ N/A    Egypt 101 #2 $760    Egypt 178 #2 Rice $730    EU Prices Baldo €660    EU Prices LG-A Ariete 5% €550    EU Prices MG Lotto 5% €500    EU Prices RG Balilla 5% €500    Russia Rapan $ 700    USA Jupiter Paddy $375    USA Calrose #1 Paddy $480    USA Jupiter Rice $630    USA Calrose #1 $830   

 Main Page
 Home Page of This Title
 Medium Grain Rice Market
 Global Market News
 Grain News
 Pulses News
 Global Overview
 Importers Profile
 Exporters Profile
 What Is Rice
 History Of Rice
 Rice Harvest Seasons
 Rice Processing
 Rice Nutrition Facts
 Meals With Rice
 INCO Terms
 US Rice Standards
 EU Codex Standards
 Egyptian Specs
 Sponsor List
 All Links
 Commodity Exchange
Search in news database
Vietnam commits 1.5M tons of rice to the Philippines
MANILA, Philippines -- Vietnam has committed to supply the Philippines with 1.5 million tons of rice this year to alleviate an expected rice shortage in the coming months, the agriculture department said Thursday.

The agreement, signed by Philippine Agriculture Secretary Arthur Yap and Vietnamese Trade Minister Yu Huy Hoang, binds Vietnam to supply rice to the Philippines in 2008 except in case of natural disasters or unforeseen harvest loss.

The agreement also committed to take "strict measures" against illegal rice trading between both countries, the statement said.

The Philippine agriculture department said the price for the Vietnamese rice will be determined through the public bidding system between suppliers.

To further forestall any rice shortage, the US Department of Agriculture will also increase its credit commodity program with the Philippines to $75 million, clearing the way for the importation of an additional 100,000 tons of US rice into the country, the statement added.

The commitments were made as part of the Philippine government's efforts to avoid a rice shortage due to rising domestic demand and tight inventories around the globe.

Rice, the staple food for the country's 90-million populace, is a political commodity in the Philippines, and any fluctuations in price and shortages in supply could potentially rouse unrest, analysts have warned.

Last week, the National Food Authority, the state's rice-importing agency, announced it had bought some 335,000 tons of the grain mainly from Vietnam, Thailand and Pakistan to avoid any crisis in the months to come.

Agriculture Secretary Arthur Yap has reassured consumers that the country will have an adequate supply of rice, thanks to supply commitments from Vietnam and the United States, along with projected record harvests later in the year.
MGR Archive 30.3.2008
Printer Friendly Version Of This Article
Send This Article To A Friend
User Name:
      Forgot your Password?
Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
Click for Details

Medium Grain Reports
Rice Market News
World Rice Markets and Trade
USDA Country Reports
Rice Market Monitor
Rice Outlook
Italian Paddy Supply
European Rice Weekly
EU Reports
Convert this amount:

  © 2002 All rights reserved. - Legal Notice