MANILA The National Food Authority will be getting its new rice stocks from Thailand and Vietnam, with some of the imported staple coming before the end of May.
NFA's Documentation and Legal Research Division chief Richardson Bassig said in a media briefing on Friday, the new rice stocks would be imported through the government to government (G2G) mode, which the agency deems faster than the government to private (G2P) mode.
The importation covers 250,000 metric tons of well-milled long-grain white rice, aimed to boost NFA's nearly depleted rice stocks meant for the masses in the country.
Thailand and Vietnam's price offers were lower than the reference prices the NFA set for re-bidding on Friday, Bassig said.
"We're therefore expecting the rice imports to be in the country already on or before June 30 this year," he said.
The NFA conducted the re-bidding on Friday after bidding last April 27 failed, since offers of Thailand and Vietnam to supply rice
exceeded this agency's reference prices then.
For the rebidding, the NFA set reference prices of USD531 per metric ton of rice with 15 percent broken grains and USD520.50 per metric ton for rice with 25 percent broken grains.
Thailand will supply the NFA with 120,000 metric tons of rice with 25 percent brokens at USD517.50 per MT.
Vietnam will supply 50,000 MT with 15 percent brokens at USD526.50 per MT and 80,000 MT with 25 percent brokens at USD517.50 per MT.
Delivery of Thailand's first 60,000 MT and Vietnam's first 40,000 MT at 25 percent brokens will be not later than May 31.
The remaining 60,000 MT from Thailand and 40,000 MT from Vietnam at 25 percent brokens will be not later than June 15.
Delivery of Vietnam rice with 15 percent brokens will be not later than June 30. (PNA)
Source: Philippine News Agency