The Vietnam Southern Food Corporation will export 150,000 tons of rice to the Philippines at a CF price of US$480 a ton, the Vietnam Food Association said.

Farmers in the Mekong Delta harvest rice. Vietnam has bagged an order to ship 150,000 tons of rice to the Philippines (Photo: SGGP)

The Philippines invited bids to supply 250,000 tons of 25 percent broken rice from Vietnam, Thailand, China, South Korea, Myanmar, and Pakistan.

Vietnam won an order for 150,000 tons of 25 percent broken rice.

Korea won the bid for the remaining 100,000 tons at a price of $468.

The Philippines wants all the rice delivered between January and April 2010.

A ton of 25 percent broken rice currently sells for $390 FOB in the global market.

The Philippines, which is likely to import around two million tons of rice in 2010, has been Vietnam’s biggest rice importer in recent years.