(VOVworld) - Vietnam will provide 1.5 million tons of rice for the Philippines in 2017 and 2018, according to a new trade agreement on extending Vietnam’s rice exports to the Philippines.
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| Rice export to the Philippines accounts for 20% of Vietnam’s total. (Photo: dantri.com) |
The Philippines was a major rice consumer of Vietnam, buying fromh half a million to 1.5 million tons each year in the 2011-2015 period. Rice export to the Philippines accounted for 20% of Vietnam’s total volume.
The Ministry of Industry and Trade said that while Vietnamese rice is facing fierce competition, the 2010 agreement has helped ensure Vietnam’s position among the world’s top rice exporters.