PH firms may seek up to 660,000 tons of Vietnam rice

HANOI - Philippine private firms may be in the market seeking to buy up to 660,000 tonnes of Vietnamese rice, while the Vietnamese food authority raised the minimum rice export prices by up to 4 percent on Tuesday, traders said.
The potential buyers from the Philippines, the world's largest rice buyer, were expected to come to Vietnam this week with a demand of between 640,000 and 660,000 tonnes of 25 percent broken rice, traders in Ho Chi Minh City said.
On Tuesday Vietnam raised the floor price for 25 percent broken rice, the most common grade often bought by the Philippines, by 2 percent to $490 a tonne, the Vietnam Food Association said.
It also raised the floor for 5 percent broken rice by 4 percent to $520 a tonne, free-on-board.

(Source: http://www.abs-cbnnews.com/business/02/22/11/ph-firms-may-seek-660000-tons-vietnam-rice)