Rattan for outdoors?

Ran across a cool rattan table and chairs set today. Unfortunately, the only spot we have for it is on our covered (but not enclosed) patio. Can anyone shed some light on how well rattan does outside? Because Austin is hot and moderately humid, I'm worried about molding/rotting.

I have had my rattan set outside since August at the beach in San Diego and not a problem. However, San Diego is considered a desert. We barely get 3" per year and barely 60% humidity half the year at the beach.
It was only $80 for a three band four piece sectional at Goodwill so, should it get icky it's not a terrible loss. I would monitor it all the same. The sun does more damage to the finished bamboo (and rattan) on the patio than moisture, here in the desert anyways.

Thanks for the info. San Diego is definitely more arid than Central Texas. Our yard is pretty shaded, so the sun won't be a huge problem. The real issue is that the price is set at a point that makes it worth buying the set, but expensive enough to worry about making it last.

Another issue is that it's not just made of rattan, but it has a laminated particle board tabletop. Usually, this would nix the entire outdoor idea. BUT... the top is laminated on all sides; unlike most particle board tables, the bottom surface is not bare. So I'm thinking that will help protect it from warping.