HAMBURG: The Philippines' state agency National Food Authority has issued international tenders to purchase 500,000 tonnes of rice, European traders said on Wednesday.
One new international tender to purchase up to 250,000 tonnes of rice can be sourced from any origin and is open to state or private suppliers.
Offers will be opened on May 22 they said.
A separate tender for 250,000 tonnes of rice has been issued for government-to-government purchase. It is open to Vietnam and Thailand only and closes on May 4.
The NFA on Friday declared an import tender for 250,000 tonnes of rice a failure after bids from Thailand and Vietnam exceeded the state agency's budget and indicated it would launch a new government-to-government tender.
The NFA has allocated $483.63 per tonne for a plan to import 50,000 tonnes of 15 percent broken rice and $474.18 a tonne for 200,000 tonnes of 25 percent broken rice but bids from both countries in Friday's tender topped $500 a tonne.
The Philippines, a frequent rice importer, is seeking to replenish its depleted buffer stock.
President Rodrigo Duterte in April directed the NFA to build up its rice buffer stock to the equivalent of 60 days of national consumption, or as much as 1.92 million tonnes. The NFA, in charge of ensuring stable rice supply and prices, in March had an inventory of only 43,500 tonnes, or less than 2 days of national consumption.
Comments
Comments are closed.