Philippines National Food Authority has revealed that The Philippines is set to buy $75 million worth of rice from the U.S. in a tender on April 8 for shipment not later than August 15.

The imports would help boost domestic supplies amid surging prices in both local and global markets. The NFA was given an import quota to buy up to 2.1 million MT of rice this year.

The NFA has so far contracted to buy 1.1 million tons of rice, mainly from Vietnam.