New tender for Vietnam, Thai rice set for Friday

THE National Food Authority (NFA) will conduct another tender for the import of 250,000 metric tons (MT) of rice on Friday, after the failure of a bid conducted last week.

In a statement issued Wednesday, NFA Administrator Jason Laureano Y. Aquino said the Friday date was set to give suppliers from Vietnam and Thailand more time.

“We would have wanted to do this earlier, but representatives of the two supplier countries asked for time to prepare the necessary documentation and consult with their respective authorities,” he added.

The NFA will be issuing new reference prices for 15% broken and 25% broken rice to be more in line with the prevailing world market price on the day before the bid and accounting for the peso exchange rate.

The agency also said it will adjust the delivery period for 100,000 metric tons (MT) of 25% broken rice to not later than May 31, with another 100,000 MT to arrive by June 15.

The remaining 50,000 MT which should be 15% broken rice should arrive no later than June 30.

Mr. Aquino said that the agency is “optimistic that the second round will succeed.”

The Philippines has memoranda of agreement with Thailand and Vietnam for government-to-government rice procurement. The shipment is intended to replenish NFA’s rice buffer stock.

Last week, the NFA set a reference price of $483.63 per MT for 15% broken rice and $474.18 per MT for 25% broken rice.

Thailand did not bid to supply 15% broken rice and asked $530 per MT for 25% broken rice. Vietnam asked for $530 per MT for 15% broken and $521 per MT for 25% broken.

The NFA will conduct another open tender for other countries and private traders to procure another 250,000 MT of rice for use as buffer stock in the three months to September, when rice supply tends to dry up.

The tender will be divided into nine lots, and the shipments will be directed to 14 ports nationwide.

A pre-bidding conference will be held on Tuesday while the deadline for bid submissions is May 22. —