Thailand to export 200,000 tons of rice to Philippines

BANGKOK, March 3 (TNA) - Thailand has won a bidding contest to sell 200,000 tons of rice to the Philippines under a government to government (G-to-G) deal. Thai Commerce Minister General Chatchai Sarikulya told journalists on Tuesday that the Thai government authorized his ministry's Department of Foreign Trade to join the Philippine government's bidding contest to buy 500,000 tons of rice on February 27, as invited by Manila, and Thailand won a 200,000-ton lot. General Chatchai said that the Philippines' National Food Authority organized the bidding contest to find suppliers of 250,000 tons of new white rice 15 per cent max and 250,000 tons of new white rice 25 per cent max. According to the commerce minister, Thailand proposed to supply 100,000 tons for each category and won the right to deliver all the proposed amount, while Vietnam Southern Food Corp won the right to deliver the rest 300,000 tons of rice, comprising 150,000 tons each of white rice 15 per cent and white rice 25 per cent. The commerce minister pointed out that the deal is beneficial, as it sets the delivery from March-April 2015, which helps accelerate the release of Thai rice from the new crop. The commerce minister noted that it is the second victory of Thailand in G-to-G bidding contests to sell rice to the Philippines, following the Kingdom's first victory in more than a decade in 2014, showing a good sign that Thailand has maintained the market share of rice in the neighboring country. Besides, the release of new and old Thai rice is seen promising, as many countries have shown their interest in purchasing Thai rice from both the government and the local private sector. (TNA)