Seven Vietnamese firms have won a bid to export 300,000 tons of rice to Indonesia, or more than half the volume that country’s plans to import in January.

Their lowest quote was US$648 per ton, including transportation costs.

Earlier this year Indonesia said it wanted to import 500,000 tons of rice in January to increase its food reserves.

Last year it imported more than one million tons of Vietnamese rice, making it the second biggest customer.

According to the Vietnam Food Association and the Thai Rice Exporters Association, the current export prices of standard 5% broken rice are $656 per ton in Thailand, $642 in Vietnam and $638 in Pakistan.

Last year Vietnam exported eight million tons of rice to rank third in the world after India and Thailand.

VnExpress