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Philippines eyes rice imports from SKorea,Vietnam16 days ago
(AP:MANILA, Philippines) A Philippines effort to import 275,000 tons (250,000 metric tons) of rice to make up for shortages caused by back-to-back storms has elicited the lowest offers from South Korean and Vietnamese companies, the government said Wednesday.
The country lost at least 1.3 million tons of rice after being pummeled over the last two months by typhoons that left more than 900 dead and rice paddies submerged.
As a result, the government pushed up its auction for rice imports to this week from December.
South Korea's Daewoo International Corp. offered the lowest bid at $468.50 to $478.50 per metric ton (1.1 ton) of 25 percent broken, well-milled long grain white rice, according to results announced Wednesday by the National Food Authority.
State-owned Vietnam Southern Food Corp., or Vinafood, made the second lowest bid at $480 to $487 per metric ton for delivery in January. It offered higher prices for deliveries in February and March.
Daewoo's bid was only for 100,000 metric tons, while Vinafood's total volume bid is for 275,000 tons (250,000 metric tons) with 165,000 tons (150,000 metric tons) to be delivered in January.
The winning bidder will be announced after about a week.
The Philippines, the world's biggest rice importer, may need to import from at least two suppliers for rice deliveries from January to April 2010, said Rex Estoperes, the food agency's spokesman.
The government last year bought a record 2.54 million tons (2.3 million metric tons) of rice to plug a 10 percent domestic production gap.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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