THE National Food Authority (NFA) is going to rebid a government-to-government (G2G) supply contract for remaining volume of rice the Philippines needs to cover the lean season.
In a text message to reporters, NFA Spokesperson Angel Imperial said the G2G tender for 100,000 metric tons of rice will be on June 16.
Manila failed to secure its entire buffer stock after the initial rounds of a G2G tender failed.
The NFA seeks to import 250,000 MT of buffer stock, but was able to purchase only 150,000 MT from Vietnam.
Manila wants to fill its requirement before the lean season starts in July.
The NFA is required by law to have at least a 15day buffer stock at any given time and a 30day buffer during the lean months. The lean runs until September.
Suppliers must belong to a country with an existing agreement with the Philippines to participate in the bidding process.
Only Vietnam, Thailand and Cambodia have such an agreement with Manila.
Earlier, NFA Deputy Administrator Joseph dela Cruz said they may have to tap the private sector to importation up to 805,200 MT of rice under the minimum access volume (MAV).
The MAV sets minimum volume of farm produce allowed to enter the Philippines at a preferred tariff rate of 35 percent. Outside the MAV, a 50 percent tariff rate is imposed on shipments and must be approved by the NFA.
The NFA is expected to open the applications for MAV anytime this month. The traders must be able to deliver the grains from September to October.
Of the rice imports under MAV, some 755,000MT will be countryspecific quota (with Vietnam and Thailand getting the bulk), and the remaining 50,000 MT will transacted under an omnibus trade deal.
Once the MAV is in play, the total rice imports may reach 1.8 million MT this year, a record high under the Aquino administration.