Philippines Buys 454,000 MT At Higher Levels

The Philippines National Food Authority bought 454,000 MT of rice from Vietnam and Thailand on Friday for shipment between February and April this year.

Contract prices were higher by around $70 PMT from rice deals signed by the National Food Authority a month ago.
 
The purchase brings the NFA's total rice imports so far in the year to 876,701 MT. The Philippines is expected to buy this year 1.6 million MT of rice to shore up supplies during the lean production months of July to September.