Vietnam, Thailand to supply NFA with 203,000 metric tons of rice

The National Food Authority (NFA) on Wednesday ordered a total of 203,000 metric tons (MT) of rice from Vietnam and Thailand, according to a report of Maki Pulido on Balitanghali.

Thailand offered the lowest bid of $469.80 per metric ton of rice—lower than the NFA's reference price of $470—but it could not meet the 203,000 metric tons that the NFA demanded.

Thailand can only supply 80,000 metric tons of rice, the report said.

Due to this, NFA gave Vietnam the chance to match Thailand's bid.

Vietnam cut its original bid of $470 per metric ton to level with Thailand’s bid, and will now supply the remaining 123,000 MT required by the Philippines.

The imported rice will arrive before the year ends at the price of P27 per kilo. — Joviland Rita/BM, GMA News