Vinafood 2 to sell 2 million tons of rice to Philippines

VOV.VN - The Vietnam Southern Food Corporation (Vinafood 2) has signed a Memorandum of Understanding (MoU) with the AgriNurture Inc. (ANI) from the Philippines to become an exclusive supplier of two million tonnes of rice annually from 2019.

vinafood 2 to sell 2 million tons of rice to philippines hinh 0
The nearly US$1 billion deal which was signed by ANI CEO Antonio Tiu and Vinafood 2 General Director Tong Ngoc Nam late last week will be implemented for two years.

ANI has been allowed by the Philippines National Food Authority (NFA) to increase rice imports to ensure market supply and national reserve. Accordingly, ANI will import 500,000 tons of rice every quarter.

Earlier, NFA granted ANI a license to import 132,000 tons of rice to meet domestic demand in Zambasulta province.


Related news