The Philippines is one of the world’s biggest rice producers, but it usually buys from major suppliers like Thailand and Vietnam to help fill production gaps caused by typhoons.
Vietnamese exporters have already quoted prices that are as much as $40 lower than at a a recent meeting, Department of Agriculture Senior Undersecretary Domingo Panganiban said in a statement sent by President Ferdinand Marcos Jr.’s office.
This will hopefully pave the way for the country to get better terms for the additional 300,000 metric tons to 500,000 metric tons of rice importation for this year,” the official said.
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