THE National Food Authority (NFA) said it rejected the bids of Thailand and Vietnam in the second government-to-government (G2G) auction for 203,000 metric tons (MT) of long grain rice at the 25% broken grade, with bids much higher than the $447.88 per MT reference price.
Vietnam rice prices have been falling in the last two days as importers from the Philippines canceled orders due to fear of losses after the country imposed rice price ceilings.
Vietnam has exported six million tons of rice worth US$3.2 million this year, 21% and 35% up in terms of volume and value from the same period last year.
