Fisheries & Food Trade Corp. purchased an estimated 26,791 tonnes of rice to be sourced from Vietnam in an international tender which closed in late February, European traders said on Monday.
The purchase all involved Vietnamese long grain rice, with 9,000 tonnes bought at $510.70 a tonne c&f for arrival in South Korea around June 30, 9,000 tonnes bought at $507.99 a tonne c&f for arrival around Sept. 30 and 8,791 tonnes bought at $517 a tonne c&f also for arrival around Sept. 30, traders said.
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No purchase was reported of about 44,000 tonnes of U.S.-origin wheat also sought in the tender.
Awards in the corporation’s tenders can take place long after the offer deadline because of lengthy price negotiations and the need by sellers to send rice samples for analysis, traders said.
Data from the General Department of Vietnam Customs (GDVC) showed that the country exported 974,556 tonnes of rice worth nearly $469.26 million in the first two months of the year, up 48.6 per cent and 30.6 per cent against the same period last year, respectively.
By Michael Hogan @ Reuters
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Source: Vietnam Insider