MANILA, Philippines - The Philippines, the world's top rice importer, is buying 250,000 metric tons of 25 percent broken white rice from Vietnam and Thailand, National Food Authority (NFA) spokesperson Rex Estoperez said.

The suppliers are Vietnam Southern Food Corp. (Vinafood Corp.), which will source its rice from Vietnam, and Daewoo International Corp. of Korea, which will supply rice from Vietnam and/or Thailand.

Vinafood Corp. will ship 150,000 tons at $480 per ton, including cost and freight, for delivery in January 2010.

The rest, or 100,000 tons, will come from Daewoo at $468.50 per ton, for delivery between January and April 2010.

The NFA also has the option to buy an additional 25 percent of the tendered volume to lock in the low prices from the winning bidders, Estoperez said.

Vinafood and Daewoo offered the lowest prices during the NFA rice tender on Nov. 4. That auction, which may only be the first in a series, was held a month earlier than usual.

Manila is buying rice early to lock in good prices and secure stocks for early 2010, when the effects of crop damage due to recent typhoons are expected to be felt.

?We have to...place an early importation to maintain the supply and price stability of the basic staple,? NFA administrator Jessup P. Navarro said in a statement.

NFA deputy administrator and bids committee chairperson Ludovico Jarina said that the auction prices were ?good.? This gives Manila flexibility to buy again next month if the government?s interagency committee recommends the same.

The decision will have to be made as soon as next week to get ahead of anticipated tightness in supply?and subsequently high prices?by next year.

The Philippines, a perennial net importer, has said it may buy about 2 million tons of rice for 2010 supplies.