Demand From Philippines Driving Global Rice Market

Global rice export prices began easing after the Philippines abandoned a tender to buy 675,000 MT of rice and the state-run National Food Authority said it would wait until the 3rd  quarter before returning to the market. 

The Philippines, by far the biggest importer of rice this year, has said it plans to be more discrete in the way it buys the commodity,
but neither government-to-government deals  nor negotiated transactions with private suppliers look easy to execute in the current environment.

Having imported 1.71 million MT so far this year, the Philippines says it has enough rice to tide over the lean production months