NFA set to hold rice bid

MANILA, Philippines—The government will hold a bidding next month for 500,000 metric tons of rice, its total import of the grain for 2012, Agriculture Secretary Proceso Alcala said.

Alcala told reporters the National Food Authority (NFA) will hold a tender for farmers cooperatives and traders interested in buying rice overseas via the grains agency.

Unlike past years, the country will not exercise its privilege to buy rice under government-to-government contracts, leaving the entire business to the private sector. This year’s importation is 42 percent lower than last year’s which was 860,000 MT.

The declining volume is part of the government’s goal to stop importing rice. The country aims for rice self-sufficiency by 2013. Alcala said the import volume would not change even after the 2011 rice harvest fell short of expectations.