The Philippines' state agency National Food Authority issued an international tender to purchase up to 500,000 tonnes of rice, European traders said on Thursday. Tender offers will be opened on November 20, they said. The rice can be sourced from any origin and can come from state or private suppliers.
The tender seeks well-milled long grain white rice of 25 percent broken grade, traders said. Some 250,000 tonnes is sought for arrival in the Philippines around December 31, 2018, and 250,000 tonnes for arrival around January 31, 2019. The shipments will be unloaded at a number of different ports.
Philippine President Rodrigo Duterte on October 9 scrapped 20-year-old import restrictions on rice to combat soaring prices by increasing domestic supplies. Rising rice prices have contributed to surging inflation in the country. A new tender from the authority had been expected after it bought only 47,000 tonnes in a tender on October 18, well below a planned purchase of 250,000 tonnes, because prices offered were high.
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