Philippines to retender for 250,000 tonnes of rice after high bids

The Philippines' National Food Authority (NFA) on Friday declared an import tender for 250,000 tonnes of rice a failure after bids from suppliers Thailand and Vietnam exceeded the state agency's budget, but an official said a fresh tender is being planned.
NFA has allocated $483.63 per tonne for a plan to import 50,000 tonnes of 15 percent broken rice and $474.18 a tonne for 200,000 tonnes of 25 percent broken rice. Initial and revised bids from both countries topped $500 a tonne, said Judy Carol Dansal, deputy NFA administrator and head of the panel that held the tender.
The Philippines, a frequent rice importer, had sought offers from its two top rice-producing neighbours under a government-to-government mode of procurement, as it seeks to replenish its depleted buffer stock. "We will send new invitations to the governments of Vietnam and Thailand to participate in another bidding possibly within the day," Dansal told reporters, adding another tender could be held as soon as next week.
"We still want the imported rice to arrive not later than the end of June," she said, ahead of the lean domestic harvest season. President Rodrigo Duterte last week directed the NFA to build up its rice buffer stock to the equivalent of 60 days of national consumption, or as much as 1.92 million tonnes. The NFA, in charge of ensuring stable rice supply and prices, had an inventory of only 43,500 tonnes, or less than 2 days of national consumption, as of March.