Philippines Announces Third Rice Tender

The Philippines, the world’s biggest rice buyer, has issued its third tender for 2010 supplies after storms damaged crops and the country accelerates imports to secure shipments amid surging prices.

U.S. Department of Agriculture had earlier estimated on Nov. 10 that Philippines would import a record 2.6 million MT next year, out of an estimated total world trade of 29.5 million MT.

The Philippines will be holding a tender for 600,000 metric MT of rice on Dec. 8, a week after a record 600,000 MT tender on Dec. 1, pushing the country’s purchases for 2010 to 1.45 million MT before the end of this year.