Philippines To Buy 60,000 MT Of US Rice

The Philippines National Food Authority is expected to buy around 60,000 MT of rice from the U.S. based on offers made at a tender Tuesday.

The Philippines held a tender Tuesday to buy $75 million worth of rice from the U.S. under a commodity loan program of the U.S. Department of Agriculture. The NFA has been given an import quota to buy up to 2.1 million MT of rice this year.

The NFA, which has so far contracted to buy 1.1 million MT of rice, mainly from Vietnam, will hold another tender on April 17 to buy up to 500,000 MT.