The Philippines may award to two Vietnamese companies the contracts for the supply of 800,000 metric tons (MT) of rice following Tuesday’s open tender.
In an interview, National Food Authority (NFA) spokesperson Rex Estoperez said that two Vietnam state-owned companies—Vinafood I and Southern Food Corp. (Vinafood II)—submitted the lowest bids.
Vinafood II offered to supply 800,000 MT of rice at a price range of $436.50-$441.25 per metric ton, while Vinafood I offered to supply 400,000 MT of rice at a price range of $436-$449 per metric ton.
Vietnam’s offers were significantly lower than the $477.28 per metric ton ceiling price set by the NFA.
“Based on the prices offered by the two companies, Vinafood II may get the contract to supply 700,000 MT, while Vinafood I will get the supply deal for 100,000 MT,” Estoperez said.
The NFA spokesperson, however, said that the offers are still subject to a post-qualification review by the Bids and Awards Committee and that an official announcement will likely be made middle of next week.
The other bidders were Olam International Ltd/Roan Agrifactor Corp., Louis Dreyfus Commodities Asia, Thai Hua Co. Ltd., Vinafood I, and Singsong (HK) Ltd.
Three other interested suppliers – Asia Golden Rice, Toefper International Asia Pte. Ltd., and LG International – bought bid documents but later backed out during the bidding.
The NFA has allotted a budget of P17.182 billion for the purchase of rice stocks, which should be long grain white rice with 15 percent brokens and well milled.