The National Food Authority (NFA) has announced a failure of bidding for the supply of 500,000 metric tons of rice after all four traders offered to sell at above the government’s price ceiling.

In an interview, NFA Spokesperson Rex Estoperez said that the NFA’s Bids and Awards Committee has announced failure of Wednesday’s rice tender after qualified bidders submitted offers that were higher than the $456.60 per MT approved budget for the contract (ABC).

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