THE Philippines and Vietnam have agreed on a one-year deal for 1.5 million metric tons (MT) of rice through April 2027, the Department of Agriculture (DA) said on Friday.
The arrangement was said to have been secured via a high-level meeting between President Ferdinand Marcos Jr. and Vietnamese Prime Minister Le Minh Hung a day earlier at the Association of Southeast Asian Nations (Asean) leaders’ summit in Cebu.
Agriculture Secretary Francisco Tiu Laurel Jr. said pricing and trade logistics were also finalized at $450 per MT for the DT8 variety, a popular fragrant rice from Vietnam.