NFA, Philippine have decided to import 500,000 tons of well milled long grain white rice through G to G deals
Worrying about the coming lean season (June- August) the National Food Authority (NFA) of Philippine has decided to import 500,000 tons of well milled long grain white rice through G to G deals to boost the buffer stock for coming days, according to Reuter.
NFA is planning to purchase 250,000 tons of 25%broken rice and remaining 250,000 tons of 15% broken rice and is seeking the delivery of the half volume by 31st March and another half by 30th April 2015.
NFA has invited all the major rice producing nations like Thailand, Cambodia, and Vietnam to provide rice to the Philippine through agreement sent from this month. Each supplier has to provide atleast 50,000 for each variety.
Of all the invited nations, Thailand and Vietnam could able to won the deal.
Thailand has won its first G2G rice export deal with Philippine government last year and this is its second G2G deal to provide Philippine 200,000 tons rice.
In the same contest Vietnam through Vietnam Southern Food Corp won the deal to export remaining 300,000 tons of rice to Philippine.
Commerce Minister Chatchai Sarikulya said that the delivery has set for March-April and Thailand could be able to deliver the produce in the short period of time.
He also said that many of the nations are showing their interest to buy Thai rice and it’s a good sign for Thailand to sale off its new and old stock.