5 firms get NFA OK to import rice

The National Food Authority (NFA) yesterday awarded the importation of 200,000 metric tons (MT) of rice to five companies as the government beefs up its reserve stocks for the third quarter.

The state-trading company Vietnam Southern Foods Corporation (VSFC) was awarded the bulk of the importation at 150,000 MT.

NFA bought the volume from VSFC at $243.98 per MT at 25 percent broken rice. The agency also awarded Noble Grain Pte Ltd. a contract to supply 15,000 MT at $240.35 per MT.

The other companies that were awarded contracts were Thai Marpan Co. Ltd. which will bring into the country this month or in August, 15,000 MT of 25 percent broken rice for $241/45 per MT; Toepfer International, 15,000 MT at $243.80 per MT; and Daewoo, 5,000 MT, at $244 per MT.

As the NFA rushes to boost buffer stocks in the third quarter, the agency is also likely to purchase within the week, an additional 50,000 MT from the same suppliers. The volume represents the allocation given to rice farmers under the NFA’s Farmers As Importers Program but which they failed to acquire.

The importation forms part of this year’s target rice imports of 1.017 million MT which is 92,000 MT higher from last year’s total rice imports of 925,000 MT. – Rocel Felix