Philippines To Hold Tender For 600,000 MT

The government of Philippines has announced that will hold its second rice tender in less than a month, to buy 600,000 MT as the world's largest importer of the grain secures 2010 supplies.

State-run National Food Authority (NFA) said on Monday it is seeking 25% broken white rice at a tender on December 1. The grain is scheduled for arrival between February and May 2010. The agency has set a budget of P15.264 billion ($325 million) for the purchase, or around $541 PMT, C&F, at current exchange rates.

The Philippines has moved early to ensure there will be enough of the national staple in the first half of 2010 after typhoons hit farmland in September and October.