BOC to sell P160-M seized rice

MANILA, Philippines - The Bureau of Customs (BOC) will proceed next week with the sale of some P160 million worth of seized imported rice.

The five million-kilo rice shipments seized at the Port of Manila in 245 20-foot shipping containers would be sold in eight lots during the auction on Oct. 7, the bureau said in a statement yesterday.

The lots comprise a total of 101,500 bags, 16,000 of which are glutinous or malagkit.

The minimum floor price is set at P38.93 million or P48.67 per kilogram of glutinous rice.

The floor price for white rice, on the other hand, is set at P120.93 million or P25.87 per kilogram.

The auction was originally scheduled last Sept. 16, but BOC Commissioner John Sevilla ordered the cancellation of the auction to ensure full compliance with government procedures on auctions and sales.

Mario Mendoza, Customs district collector for the Port of Manila, said that rice will be sold on an “as is, where is” basis.

He explained that proceeds from the auction would be held in trust by the BOC as these shipments are subject of ongoing court cases. Interested buyers could view the rice to be auctioned on Friday. – With Roel Pareño