MANILA, Philippines — After two failed attempts, state-run National Food Authority has finally secured the needed 203,000 metric tons (MT) of rice via the government to government (G2G) scheme after increasing its reference price. Thailand, represented by its Department of Foreign Trade, on the other hand, will supply 80,000 MT of rice with the same specifications. This time, the governments of Thailand and Vietnam both offered bids that are below the NFA reference price of $470 per MT. The new reference price was significantly higher than the $447.88 per MT set during the previous failed bidding two weeks ago. The rice imports will be discharged in the ports of La Union, Subic, Manila, Cebu, Tacloban, Zamboanga, Cagayan de Oro, General Santos City, Davao, and Surigao.

Source: Philippine Star November 28, 2018 16:02 UTC