Vietnam Frontrunner For Philippines Tender

Vietnamese rice exporters are most likely to win a Philippine tender Tuesday to buy up to 550,000 MT of rice, as Thai rice prices are currently at higher levels due to limited supplies.

Six Vietnamese suppliers, led by state-owned Vietnam Southern Food Corp., or Vinafood, are expected to make offers for the tender by the National Food Authority, or NFA.

The Philippines is expected to buy 1.6 million MT of rice this year, from an import volume of 1.87 millions on in 2007.