Storm-hit Philippines begins rice imports early

The Philippines will sign import rice contracts late this month, two months earlier than usual, with Vietnamese suppliers for next year as its rice production is likely to be lower due to the aftermath of devastating typhoons Ketsana and Parma.

But the price of the grain would not be affected much, Vietnamese rice traders said, though 25 percent broken rice, which accounts for most of the Philippine imports, could become more expensive.

This year the Philippines has bought 1.8 million tons, down from 2.3 million tons last year.

Thailand is trying to consolidate its position on the market after its rice exports to Philippines fell to 80,000 tons this year from 500,000 tons last year.

By Ph.Hau – Translated by Minh Tri

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