The Northern Food Corporation (Vinafood 1) and King Green Company were the two Vietnamese enterprises participating in the tender process.

King Green Company successfully won two lots with a total quantity of nearly 60,000 tonnes at US$548 per tonne.

Thailand was the winning bidder with the highest price of US$574 per tonne, while Pakistan was the winning bidder with the largest quantity at about 240,000 tonnes and a winning price range between US$555 and US$567.5 per tonne.

Currently, the amount of rice in stock by Vietnamese enterprises remains modest as it is the end of the summer-autumn rice crop.

Meanwhile, the price of rice in the world market is at a low level, according to the Vietnam Food Association.

Specifically, Vietnamese 5% broken rice is sold at US$565 per tonne, while that of Thailand and Pakistan is traded at US$560 per tonne and US$529 per tonne, respectively.

By the end of August, Vietnam exported more than 6.15 million tonnes of rice worth US$3.85 billion, up 5.8% in volume and 22% in value year on year.

The average export price of rice reached US$625 per tonne, up nearly 15% compared to the same period last year.