MANILA, Philippines—The Bureau of Customs will push through with the public auction of some P1.2 billion worth of smuggled rice earlier seized in the ports of Cebu and Legazpi cities.
Cebu district collector Edward de la Cuesta said an invitation to bid for prospective buyers would be published in major dailies within the week.
To be auctioned are the estimated 500,000 sacks of rice contained in 1,169 containers that were seized at the Port of Cebu from March 18 to April 2, 2013.
De la Cuesta added that the 94,000 bags of Vietnamese rice that were seized from Vietnamese cargo vessel MV Minh Tuan 68 which entered the waters of Albay province last year will also be auctioned off to the public.
The value of the smuggled rice, which will be auctioned in batches, would be pegged at P1,373 per sack of 50 kilos, he said.
“We have 200 containers to be bidded out … After that, maybe in two weeks we will increase the number to be bidded out to 300,” De la Cuesta said, adding that he intends to dispose of all the rice by August or early part of September.