Vietnam wins bulk of NFA rice import order

07.08.2017

THE National Food Authority (NFA) has awarded contracts for the supply of 250,000 metric tons (MT) of rice mostly to suppliers from Vietnam, with the shipments intended to supplement buffer stocks for the lean season.

“All the winning bidders were given notices of award yesterday [Wednesday],” NFA Deputy Administrator and Special Bids and Awards Committee Chairman Tomas R. Escarez said in a text message on Thursday.

“Bidders will have to comply with the submission of Performance Bonds, after which they would be issued [with] Notice[s] to Proceed and signing of contract follows,” he added.

Winners have five banking days upon issuance of notice of award to submit a performance security equivalent to 5% of the total awarded contract price.

In case bidders fail to comply within the given period, the awarded contracts will be canceled and the bids will be forfeited.

Vietnam-based suppliers accounted for 175,000 MT of the total shipments.

Winning bidders from Vietnam were Tan Long Group Joint Stock Co. for Lots 2 and 3 at 25,000 MT each; Hiep Loi Foods JSC for Lot 4 at 25,000 MT; Gia International Corp. for Lots 5 and 6 at 25,000 MT each; and Vietnam Southern Food Corp. (Vinafood II) for Lot 8 at 50,000 MT.

Meanwhile, Singapore’s Olam International Ltd. won Lot 1 at 50,000 MT. Thailand’s Capital Cereals Co. Ltd. won Lot 7 at 25,000 MT.

The shipments are expected to arrive in tranches according to the following timetable: 120,000 tons by August and the remaining 130,000 tons by September. - Janina C. Lim

The government has allocated P5.6 billion for the purchase of the 250,000 MT. Winning bids however amounted to P3.5 billion.


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