Philippines Import Quota Not Attracting Enough Bids

A Philippine tender offering import quotas of 141,440 MT is unlikely to attract a significant number of private importers due to prevailing high prices of the grain the global market.

According to National Food Authority, NFA assistant administrator Conrad Ibanez, only four private importers have so far purchased bid documents for Tuesday's tender.

At the tender, NFA will award quotas to companies that bid to pay a minimum service fee of two pesos per kilogram. Private-sector importers who offer to pay the highest service fee will be given priority in the issuance of quotas.