More bidders vying for NFA rice importation

Five more companies from Vietnam, Thailand, and Singapore showed interest to place a bid in the governmentto-private (G2P) importation of 250,000 metric tons (MT) of rice, which would help shore up Manila's dwindling buffer stock even for seven days only.

National Food Authority (NFA) Deputy Administrator Tomas Escarez said there are now 16 prospective bidders for the supply of 250,000 MT of rice with specification of 25-percent broken of long grain and well-milled white rice.

Escarez told Business Bulletin that as of Tuesday, Phan Min Investment Production Trading Services Co. Ltd., Hiep Loi Food Jsc., Thuan Minh Import Export Corporation Vietnam, Wilmar Trading Pte. Ltd., and Thai Capital Crops Company Limited have all formally expressed intention to join the bidding. They will compete along with the first 11 firms who already bought the bid documents.

The total volume of imports will be divided into 8 to 10 lots and a supplier can bid for only a maximum of 50,000 MT.

Delivery period for the imports has been staggered from August to September 2017.

The exact bidding date is happening on July 25 (Tuesday).

For this G2P deal, the NFA will only purchase for $451 dollars per MT of rice, totaling to 15.6 billion.

"The NFA Council (NFAC) has prescribed the open tender scheme to allow more private suppliers to participate," NFA said in a statement.

NFAC is composed of representatives from various agencies such as the Office of the Cabinet Secretary (Chairman), NFA (Vice Chairman), Bangko Sentral ng Pilipinas, Development Bank of the Philippines (DBP), Land Bank of the Philippines (LBP), Department of Finance, Department of Trade and Industry (DTI), National Economic and Development Authority (NEDA), Office of the Executive Secretary, and Farmers Sector Representative. (MBM)