State-run National Food Authority (NFA) on Thursday said it has officially awarded the supply of 500,000 metric tons of rice to Vietnam under a government-to-government tender.
In a telephone interview, NFA Spokesperson Rex Estoperez said that Bids and Awards Committee has approved the purchase of half a million tons of rice from Vietnam Food Association.
Estoperez added that delivery of 200,000 MT of rice would start December 2013, which would replenish the NFA’s buffer stock. The remainder will be shipped early next year.
Vietnam offered the lowest bid of $462.25 a metric ton during Tuesday’s tender, trumping Thailand’s offer of $475, while Cambodia, the third country allowed to participate in the bidding, failed to submit an offer.
“Both Vietnam and Thailand offered to supply the 25 percent broken, long grain, well-milled rice variety.
The price offered by Vietnam is also lower than the world market,” National Food Authority (NFA) administrator Orlan Calayag said.
Manila earlier announced that importation of 500,000 metric tons of rice –under a government-to-government deal – will help beef the government’s buffer stock after super typhoon Yolanda damaged crops.
It also said that that countries with existing supply agreement with the Philippines – such as Cambodia, Thailand and Vietnan – will be allowed to join the rice tender. JAMES KONSTANTIN GALVEZ