Philippines invites tenders for 250,000 tonnes of rice (Illustrative image. Source: VNA)Bids must be submitted before July 25 and the entire 250,000 tonnes are required to arrive in the Philippines between August and September.
The Philippines, one of the world’s largest rice importers, usually buys from major suppliers such as Thailand and Vietnam.
However, this time’s bidding is opened to private suppliers from other countries, including Pakistan and India, as the Southeast Asian country shifted away from buying rice under government-to-government deals to ensure competitiveness and transparency, following accusations that some officials were making money from such deals.
Previously, in May, the NFA announced a preliminary tender plan to boost the country’s low stockpiles before the lean harvest season and to offset potential crop damage during the typhoon season, which typically peaks in October to December.
The current stockpile of the country is just enough to cover eight days of national requirements. The NFA is required to maintain a 15-day buffer stock at any time during the year and at least 30 days during the off-season taking place from July to September each year.-VNA
VNA
