Vietnam wins bid to supply 800,000-MT rice to Phl

MANILA, Philippines - The National Food Authority (NFA) has awarded the supply contract for 800,000 metric tons (MT) of rice buffer stock this year to Vietnamese state firms.

The state-run grains procurement agency awarded the supply of a total of 600,000 MT of rice to Vietnam Southern Food Corp. (Vinafood 2). 

Vinafood 2 beat NFA’s quotation of $477.28 per MT with selling prices of $436.50 per MT, $437.75 per MT, and $439.25 per MT for three lots of 200,000 MT each.

Awarded, meanwhile to Vietnam Northern Food Corp. (Vinafood 1) is the contract for the supply of 200,000 MT of rice.

Vinafood 1 beat Vinafood 2’s quotation for a selling price of $426 per MT and $439 per MT for shipments of 100,000 MT each.

The rice shipments to be made between the months of May to August are specified as long grain, well-milled white rice that is 15 percent brokens.

The Vietnamese state firms submitted the lowest offers during the bidding held on April 15.

Other firms that participated in the bidding were Singapore-based firms Olam International and Roan Agrifactor Corp., Louis Dreyfus Commodities Asia Pte. Ltd., Thailand-based Thai Hua Co. Ltd. and Hong Kong-based Singsong HK Ltd.

Olam International and Roan Agrifactor were disqualified from participating in the bidding as these firms could not comply with the delivery period of between May to August as stated in the terms of reference.