PHL reissues tender for 100,000-MT rice imports

THE NATIONAL Food Authority (NFA) said yesterday it has reissued a tender to import an additional 100,000 metric tons (MT) of rice as it seeks to boost its buffer stock ahead of the lean harvest season in the country beginning July.

The tender is again open only to the governments of Thailand, Vietnam and Cambodia, with sealed bids to be opened on June 16, the NFA said in a statement. It comes after June 5 bidding that saw the NFA agreeing to buy

150,000 MT of rice, with Vietnam winning the deal against Thailand. Cambodia did not submit a bid. The NFA had planned to

import as much as 250,000 MT of 25% broken white rice via the June 5 tender, but the initial price offers were higher than its budget. Vietnam had agreed to revise its bid but for only 150,000 MT while Thailand had backed out in

the second round of bidding.

Vietnam, the Philippines’ traditional main supplier, last week cut its export price floor for 25% broken rice by 2.9% to $ 340/ MT amid a lack of fresh buying demand.

Dry weather brought by the current El Niño weather episode has prompted the Philippines, one of the world’s top rice importers, to further cut its estimated output of the staple grain in the second quarter. The NFA already has government approval to buy another 250,000 MT later this year if drought brought on by El Niño hurts its harvest. —