Info Resource

Asean firms win bid to supply rice to Philippines
10:34:02 AM | Thursday, August 10th, 2017

Source: http://www.philstar.com
Author: Louise Maureen Simeon

Any views expressed in this article are those of the author and not of Philippine Statistics Authority.

MANILA, Philippines - Six companies from Southeast Asia will likely supply the 250,000 metric tons (MT) of rice as part of the planned government to private sector (G2P) importation scheme to boost the country’s dwindling buffer stock.

During the bidding conducted yesterday, state-run National Food Authority (NFA) announced that four companies from Vietnam, one from Singapore and one from Thailand submitted the lowest bids for the procurement of the 250,000 MT.

There were 21 companies that actually bought bid documents but only 18 showed up during the bidding process. Of the 18, two did not drop their bids and one failed due to the lack of statement of its ongoing contract.

The rice imports (25 percent broken, well-milled, long grain white rice) were divided into eight lots: six lots of 25,000 MT each and two lots of 50,000 MT each. A bidder can bid for a maximum of 50,000 MT only.

For the first lot of 50,000 MT in La Union and Batangas ports, Singaporean company Olam International Ltd. had the lowest offer of $413.89 per MT for a total of $20.6 million.

Vietnamese Tan Long Group Joint Stock Co. bid and had the lowest offer for lots 2 and 3, both in Manila at 25,000 MT each, at $414 per MT and $409 per MT, respectively.

Read more: http://www.philstar.com/business/2017/07/26/1721384/asean-firms-win-bid-supply-rice-philippines

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