ANI signs US$1B import deal with Vietnam’s largest grains exporter
Listed AgriNurture, Inc. (ANI) said it has signed an exclusive deal with Vietnam Southern Food Corporation (VINAFOOD II) to import 2 million metric tons (MT) of rice to the Philippines, which would have a value of US$1 billion.
In a Memorandum of Agreement signed between the two companies, VINAFOOD II, Vietnam’s largest grains exporter, agreed to exclusively supply long grain rice to ANI.
VINAFOOD II is a state-owned corporation duly designated and assigned by the government of Vietnam to export rice and help achieve food security in Southeast Asia.
ANI said the terms and conditions of the exclusive supply agreement shall be finalized in accordance with applicable Philippine laws including, but not limited to, the proposed rice tarrification bill.
It will be recalled that last month, ANI disclosed that the National Food Authority (NFA) has granted ‘original proponent status’ to its unsolicited joint venture proposal for the financing and purchase of imported rice to help augment the country’s buffer stock.