High prices prompt NFA to rebid rice tender

Only 47,000 metric tons (MT) out of a 250,000-MT rice tender was awarded by the National Food Authority (NFA) on Thursday as just three firms met the government’s reference price.

The NFA said it would be reopening the tender at a still to be specified date and did not rule out revisions to the $428.18/MT reference price after most of the 14 participating firms — out of 18 prospective bidders — submitted much higher offer prices.