THE National Food Authority (NFA) said 17 traders are interested in selling 250,000 metric tons (MT) of rice to the agency to replenish its depleted stockpile.
As of May 8 the NFA said 17 traders have bought bid documents during its prebid conference for the open tender scheduled on May 22.
“[Our open tender] is very competitive because we have a lot [of participants]. We do not limit [the number of participants], so the more the merrier,” NFA Deputy Administrator Judy Carol L. Dansal told reporters after the agency’s pre-bid conference. “We cannot say if we would save more [if there are more participants]. It is premature to state that but that is our objective,” Dansal added.
Dansal said private traders can supply the entire allocated lots unlike in the previous open tender wherein the awarded volume must not be higher than 50,000 MT.
The NFA will allow traders to purchase bid documents until May 21, a day before the scheduled open trader. Dansal expressed confidence that the 17 interested rice traders would not back out of the May 22 tender.
Of the 17 traders who bought bid documents, seven were from Vietnam and five were from Thailand.
The Vietnamese traders were Vietnam Southern Food Corp. Vietnam Northern Food Corp., Hiep Loi Joint Stock Co. and Gentraco Corp. Phan Minh Investment Production Trading Services, Gia International Corp., and Khiem Thanh Co. Ltd.
Thailand-based firms that bought bid documents were Thai Hua Co. Ltd., Ponglarp Co. Ltd., Asia Golden Rice, Capital Cereals Co. Ltd., and Thai Capital Crops Co. Ltd.
Also interested in selling rice to the NFA were local firm Paritas Trading Corp., Singapore-based Olam International Ltd., Meskay & Femtee Trading Co. Ltd. from Pakistan and Phoenix Global DMCC from the United Arab Emirates.
The NFA has allocated P6.521 billion for the purchase of 250,000 MT of rice to prop up its nearly depleted buffer stock, and in preparation of the lean months, when rice harvest goes down significantly.
Of the total volume, 200,000 MT are 25 percent brokens, while the remaining 50,000 MT are 15 percent brokens.
The NFA has divided the 250,000 MT of rice into nine lots with the 200,000 MT to be delivered to the agency’s warehouses not later than July 31, while the remaining 50,000 MT must arrive not later than August 31.