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7 Vietnamese Companies Secure Contract For 500,000 Tons Of Rice From Indonesia


Published Date: February 07, 2024
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Indonesia's National Logistics Agency (Bulog) has just released the list of winning bids for importing 500,000 tons of rice. Seven Vietnamese businesses won 10 out of 17 bidding packages. Tradologie.com is a user-friendly SaaS based global trade hub and your streamlined solution for B2B rice procurement and sales. Connect with global bulk rice buyers or bulk rice sellers, bypass middlemen for higher profits, and secure the best bulk prices effortlessly. Simplify your rice sales or procurement with Tradologie.com. 

Indonesia’s Rice Imports From Vietnam 

In order to boost food reserves, Bulog announced that bids are being accepted for the import of 500,000 tons of rice in early 2024. Indonesia's bid opening calls for imported rice with 5% broken rice from Vietnam, Cambodia, China, India, Pakistan, Myanmar, and Thailand. As per the list released by Bulog, seven Vietnamese companies have secured 10 out of 17 Indonesian bidding packages. Three sizable Vietnamese businesses among them, each winning two lots, were as follows: Lot numbers 8 and 14 went to Loc Troi Group Joint Stock Company (LTG); lot numbers 15 and 16 went to Northern Food Corporation; and lot numbers 3 and 9 went to Southern Food Corporation. Next, lot number 12 went to Kien Giang Import-Export Joint Stock Company, lot number 11 went to Phat Tai Food Company Limited (Dong Thap), lot number 6 went to Gia International Joint Stock Company, and lot number 2 went to King Green Natural Foods Joint Stock Company (King of Rice).Vietnam is the only nation where a sizable number of businesses participate and win bids. Six companies from other nations have won bids in addition to Vietnam. 

Approximately two thirds of the 500,000 ton contract that Indonesia recently closed are Vietnamese enterprises, according to some experts. This is a good indication to get ready and have faith that the winter-spring crop will be successfully harvested following the Lunar New Year. The plan states that Indonesia will import roughly 3 million tons of rice this year, which is almost equal to the Philippines. Indonesia is the world's largest importer of rice and has long been a Vietnam customer. 

According to updates from the Thai Rice Exporters Association (TREA) and the Vietnam Food Association (VFA), Thailand's standard 5% broken rice has the highest export price in the world, at 655 USD/ton. In contrast, Vietnamese and Pakistani rice have prices of 642 and 638 USD/ton, respectively. If you are a rice importer wishing to import rice in bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie.com facilitates bulk agro-commodity sales and procurement across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities in bulk at negotiable rates. 

The transaction oriented platform has 700,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 100 countries. 

To register as a buyer, click here. To register as a seller, click here. 

To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels. 

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