The Philippines bought 422,701 tonnes of rice, largely to be sourced from Vietnam, for delivery between January to March, the government said on Thursday. Conrad Ibanez, assistant administrator of the National Food Authority (NFA) told reporters the state grain agency did not award the full tender of 450,000 tonnes of rice due to high prices.
The accepted bids ranged from $399.98 to $410.99 per tonne for the January shipment, and $408.9 to $414.98 for the February and March imports, including cost and freight.