NFA issues int’l tender to buy 500,000 tons of rice

The Philippines’ National Food Authority (NFA) issued an international tender to purchase up to 500,000 tons of rice, European traders said on Thursday.

Tender offers will be opened on Nov. 20, they said.

The rice can be sourced from any origin and can come from state or private suppliers.

The tender seeks well-milled long grain white rice of 25 percent broken grade, traders said.

Some 250,000 tons is sought for arrival in the Philippines around Dec. 31, 2018, and 250,000 tonnes for arrival around Jan. 31, 2019.

The shipments will be unloaded at a number of different ports.

President Duterte on October 9 scrapped 20-year-old import restrictions on rice to combat soaring prices by increasing domestic supplies. Rising rice prices have contributed to surging inflation in the country.

A new tender from the authority had been expected after it bought only 47,000 tons in a tender on Oct. 18, well below a planned purchase of 250,000 tons, because prices offered were high.

SRP on rice

Meanwhile, Agriculture Secretary Emmanuel Piñol warned ricer traders and retailers that their licenses will be revoked if they fail to follow the suggested retail price (SRP) on rice which was launched and published last October 27.

The SRP for rice are: Imported well-milled, P39 per kilogram; imported premium, P43 and P40 per kilo depending on the grade; local regular-milled, P39 per kilo; local well-milled, P44 per kilo; and local premium grade, P47 per kilo.

Piñol said penalties will be imposed after the 15-day publication period required by law.

SOURCE: MANILA BULLETIN

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