The National Food Authority (NFA) will continue to depend on private traders to provide cheaper rice in the market after its first bidding for the importation of 250,000 metric tons (MT) of rice failed on Friday, April 27.
NFA Deputy Administrator for Marketing Operations Judy Carol L. Dansal said that should there be any delays in the importation due to the failed bid, the local traders will only have to support for only up to five days.
“This is a G2G procurement. our governments are watching over us and they are supporting each other,” she added.
“They are committed to help each other. We are positive because our neighbors are also friendly to the Philippine government.”
Citing the province of Isabela, Ms. Dansal said that it has committed 100 trucks carrying 500 bags of rice to be sold at P39 per kilo.
The NFA has set a reference price of $483.63 for 15% broken and $474.18 for 25% broken, as approved by its administrator Jason Laureano Y. Aquino.
However, both countries failed to comply with the reference price.
Thailand did not submit any bid for the 15% broken, while it has set a price of $530 per metric ton for 25% broken. The country also only pledged to ship 120,000 MT of 25% unbroken rice.
Vietnam offered a bid of $540 and $532 for 15% broken and 25% broken, respectively.
It pledged to ship 50,000 MT of 15% broken and 100,000 MT for 25% broken, which still falls below the 250,000 MT demand of NFA.
On its re-offer,Thailand lowered its bid to $445 per MT, while Vietnam had set its prices to $450 per MT and $441 per MT for 15% broken and 25% broken, repsectively.
The NFA will be conducting a second bidding next week, no later than Friday.
When asked if the Philippines is willing to recalibrate its reference prices to meet halfway, Ms. Dansal said that it will still have to be discussed by their supervisors. — Anna Gabriela A. Mogato

RELATED ARTICLESMORE FROM AUTHOR