PHILIPPINES TO IMPORT 250,000 TONNES OF RICE FROM VIETNAM, THAILAND

MANILA, Philippines April 6 (NNN-BERNAMA) The country's state-run grains agency will now proceed with the importation of rice to augment the supply of subsidised rice in the market after being delayed by its policy-making body, Inquirer.net reported.

Administrator Jason Aquino has ordered the importation of 250,000 metric tonnes (MT) of rice under the government-to-government (G to G) scheme, according to an official of the National Food Authority (NFA).

The NFA Council has originally planned to import rice through the open tender scheme, wherein the government will be transacting with private rice traders.

While the G to G scheme is said to be more prone to corruption and less transparent since the base price for bidding will not be disclosed, its process of procurement is much shorter.

The agency will purchase rice from the governments of Vietnam and Thailand where the country has an existing memorandum of understanding (MoU).NNN-BERNAMA

Source: NAM News Network