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Philippines plans to import rice from Vietnam or Thailand

The Philippines’ National Food Authority (NFA) is set to import 100,000 tonnes of rice from either Vietnam or Thailand in the coming months to stop the manipulation in the domestic rice market, according to The Daily Tribune on September 30.
The Philippines’ National Food Authority (NFA) is set to import 100,000tonnes of rice from either Vietnam or Thailand in the coming months tostop the manipulation in the domestic rice market, according to TheDaily Tribune on September 30.

The rice import isaimed at further bolstering the buffer stock and defeating efforts of arice cartel, which is believed behind in the market manipulation of theproduct, bringing down the prices of the cereal, The Daily Tribunequoted an industry source, who requested anonymity, as saying.

Earlier this year, Vietnam won a bid to provide 187,000 tonnes of rice for the Philippines in 2013.-VNA

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