Philippines to import 2 million tones of Vietnamese rice next year

The Philippines will sign contracts with Vietnam in late October 2009, two months earlier than usual to import 250,000 tonnes of rice to prepare for next year.

The decision was made in the wake of a typhoon which damaged the country’s rice fields.

Exports to the Philippines ahead of schedule will not affect rice prices as demands from other markets remain low. They will only push up the price of Vietnam’s 25 percent broken rice, which is mostly what of the country exports to the Philippines.

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