Philippines Fails To Buy US Rice

Philippines National Food Authority, NFA failed to buy $65 million worth of rice from the U.S. in a tender Wednesday due to lack of more than one bidder.

Earlier NFA, the state-owned grains trading firm, had announced a tender Wednesday to buy around 100,000 MT of rice worth $65 million.
 
The import was to be financed by the U.S. Department of Agriculture's GSM-102 commodity loan program.