HANOI — Vietnam will soon sign an inter-government agreement on the rice trade with the Philippines to help the countries ensure food security, its government said in a statement on Thursday.
The announcement followed a meeting between Vietnamese Prime Minister Pham Minh Chinh and Philippine President Ferdinand Marcos Jr. on the sidelines of an ASEAN summit in Indonesia.
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It did not provide further details about the planned agreement.
Vietnam was the world’s third-largest rice exporter last year after India and Thailand, and the Philippines is its largest buyer.
India, which accounts for more than 40% of the global rice trade, in July ordered a halt to its largest export category to calm domestic prices, sending global prices to a 15-year high and stoking concern over already high global food inflation.