Asean firms...

Corp. had the lowest bid for lot 8 in Manila at $424.45 per MT.

Reference price for the importation was set at $451.08 per MT based on the foreign exchange rate of $1 to P50.

The total amount of all bidders reached $104.86 million or P5.2 billion, saving the government around $8 million or P400 million.

The NFA has allotted a total of P5.6 billion for the procurement of the volume.

“The savings will go back to the funds of the NFA,” NFA deputy administrator and Special Bids and Awards Committee chair Tomas Escarez said.

NFA said winning bidders shall be subjected to post-qualification evaluation on July 27 to 28. If they qualify, the notice of award shall be issued on July 31, and a notice to proceed shall be issued on Aug. 3.

Rice deliveries shall be staggered from August to September, with a total of 120,000 MT expected to arrive in August and 130,000 MT to arrive in September.

NFA said rice must be shipped in break bulk where packing shall be in 50 kilograms net each in woven polypropylene bags suitable for rice export with NFA markings, designs and specifications.

Winning bidders shall deliver the goods free of obligations and expenses of NFA up to NFA’s designated warehouses.

Current NFA inventory can only last for four days compared to its mandated buffer stock.

The NFA is mandated to maintain a food security reserve good for at least 15 days at any given time.

This July, which marks the onset of the lean season for rice, the NFA must have at least a 30-day buffer stock to meet the requirements of victims of calamities and emergencies.

Based on computations, the 250,000 MT can only cover for additional seven days. At least 544,000 MT are needed to maintain the agency’s buffer stocking mandate.