Vietnam wins 8/17 bids for 500,000 tons of rice from Indonesia

In early 2024, Bulog announced a tender to import 500,000 tonnes of rice to increase food reserves. On January 30, Bulog completed the bidding and identified the winning companies. This is the first time Bulog has leaked information about the winning companies since resuming rice imports at the end of 2022.

Winter-spring rice has not yet entered the main harvest season, but many Vietnamese enterprises have won large bids in Indonesia.

According to the list by Bulog, Vietnam has Kien Giang Import-Export Joint Stock Company winning lot 12 and Phat Tai Food Company Limited (Dong Thap) winning lot 11.

Notably, 3 large Vietnamese enterprises each won 2 lots. Specifically, Loc Troi Group Joint Stock Company (LTG) won lots 8 and 14; Northern Food Corporation won lots 15 and 16; Southern Food Corporation won lots 3 and 9.

Vietnam is the only country with many enterprises participating and winning bids with large quantities (over 2 lots). Outside of Vietnam, only one trading unit, R&S Trader PTE in Singapore, won bids for 3 lots 10, 13 and 17.

According to updates from the Vietnam Food Association (VFA) and the Thai Rice Exporters Association (TREA), the export price of 5% broken rice from Thailand is the highest in the world at 655 USD/ton, while Vietnamese rice is 642 USD/ton and Pakistani rice is 638 USD/ton.

Thus, at present, Thai rice prices are 13 USD/ton higher than Vietnam's because Vietnam does not have much rice to trade and must wait until the end of February or the beginning of March. During this period, businesses focus on the domestic market and prepare for Tet holidays and do not sign new contracts.

With the 500,000-ton contract that Indonesia has just "finalized", Vietnamese enterprises account for about 2/3 of the quantity. This is a positive signal for the winter-spring crop that will be harvested after Tet holiday to be a big success. This year, Indonesia plans to import about 3 million tons of rice, equivalent to the Philippines - the world's largest rice importer and a traditional customer of Vietnam.

Source link: https://thanhnien.vn/viet-nam-trung-8-17-goi-thau-500000-tan-gao-cua-indonesia-185240201063017844.htm