NFA picks four firms to supply 510,000 metric tons rice

MANILA, Philippines - The National Food Authority issued yesterday notice of partial awards to four groups for the supply of 509,950 metric tons of rice to the Philippines. The four were the winners in a bidding held Dec. 1.

Another bidding is scheduled today.

For the Dec. 1 bidding, the NFA picked the following winners: Vietnam Southern Food Corp. (Vinafood), Louis Dreyfus Commodities Asia Pte. Ltd., Chairyaporn Rice Co., Ltd and Asia Golden Rice.

A total of 300,000 MT of rice will be sourced from Vietnam.

The balance of 209,950 MT will come from Thailand, the United States, China and Pakistan.

The shipments are scheduled to arrive from January to May. 

Vinafood won the right to supply a total of 300,000 MT. The first 100,000 MT is priced at $598 per MT. The next 100,000 MT at $630 and the remaining 100,000 MT at $648/ MT.

All the shipments will be on cost and freight, freight on board (CFR, FO) basis.

Louis Dreyfus Commodities Asia Pte. Ltd., represented by Canary Square International Corp. offered the next lowest bid for the supply of 100,000 MT at $599/ MT, CFR FO wherein 70,000 MT will come from the United States and Pakistan and the 30,000 MT balance from China.

Chaiyaporn Rice Co. Ltd represented by LG International Corp. will supply another 100,000 MT of rice at $ 639/ MT, CFR FO.

The total shipment will come from Thailand.

Meanwhile, Asia Golden Rice will supply 9,950 MT at $653/ MT, CFR, FO with the rice shipment similarly coming from Thailand.

NFA administrator Jessup P. Navarro said the imported rice will add to the government’s food security buffer allowing the agency to increase its beginning rice inventory for 2010.

 “We want to have a safe inventory level of the staple when the year starts,” said Navarro.