Philippines Seeking to Buy 83,875 MT

According to Philippines National Food Authority, NFA, the country is seeking to buy around 83,875 MT of rice from various suppliers in a bid to boost local stocks amid domestic food shortage concerns.

The NFA, which signed contracts Monday to import 335,000 MT of rice, is permitted under Philippines law to reorder up to 25% the originally contracted amount.

The NFA is likely to hold another tender in April to buy around 500,000 MT of the grain.