Fisheries & Food Trade Corp. bought an estimated 26,791 tons of rice from Vietnam in an international tender that closed in late February, European traders said Monday.
The purchase involved all Vietnamese long grain rice, with 9,000 tons purchased at $510.70 per tonne c&f for arrival in South Korea around June 30, 9,000 tons purchased at $507.99 per tonne c&f for arrival around September 30, and 8,791 tons purchased for $517 per tonne of c&f also for arrivals around September 30, traders said.
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There was no reported purchase of approximately 44,000 tons of US-origin wheat that was also solicited in the tender.
Awards in the company’s tenders can come well after the offer deadline due to lengthy price negotiations and the need for sellers to send in rice samples for analysis, traders said.
Data from the General Department of Vietnam Customs (GDVC) shows that the country exported 974,556 tons of rice worth nearly $469.26 million in the first two months of the year, an increase of 48.6 percent and 30 percent, respectively. 6 percent compared to the same period last year.
By Michael Hogan @ Reuters