NFA picks suppliers for 75,000-metric tons rice imports

MANILA, Philippines - The National Food Authority (NFA) has given notice of awards to three winning bidders to supply a total of 75,000 metric tons of well-milled long grain white rice of 25 percent brokens to the Philippines.

The average price is $484.92 per metric ton (MT).

The rice imports will come from Thailand and Pakistan and will arrive in the country by August and September this year.

Thailand will supply 65,000 MT, while the rest only 10,000 MT will come from Pakistan.

Asia Golden Rice won the right to supply a total of 47,000 MT of 25 percent brokens at $487 per metric tons.

Thai Hua and Toepfer International will supply 18,000 MT and 10,000 MT at $486.28 and $472.72 per MT, respectively.

NFA Administrator Jessup P. Navarro said the rice imports will enable the grains agency to improve its rice stock position and preempt any abnormal increases in the price of rice during the lean production months.

The rice imports will form part of the government’s additional food security buffer for a very safe rice inventory level particularly in traditionally deficit and high consumption areas.

The bidding was held last July 22 with 10 international rice suppliers participating. It was viewed by traders as more of a price setting exercise by the NFA for a relatively small amount of 75,000 MT.

Thai rice trader Thai Hua Ltd. successfully outbid its Vietnamese rival Vinafoods which, in the past, has been the primary rice provider of the Philippines.

Vinafoods offered a best effort bid of $504.50 compared to Thai Hua’s winning bid of $486.28.          – Marianne Go