NFA assures cheaper rice back in the markets by May
National Food Authority (NFA) said the much sought-after good quality but low-priced NFA rice will soon be back in the markets as importation of the 250,000 metric tons (MT) of government buffer stock goes underway.
In consultation with the President, and after thorough review and deeper scrutiny of the Terms of Reference (TOR) on Government-to-Government (G2G) importation, the TOR was already approved and signed by NFA administrator Jason Aquino.
Letters of invitation had already been sent through courier service to the local embassies of Vietnam and Thailand, the only countries with existing Rice Trade Agreement with the Philippines.
Submission of price offers is scheduled on April 27, 2018. The required documents from the bidding countries shall be opened and checked before opening and reading of the price offers.
If the bidders pass the documentary requirement and price offers are within or lower than the approved reference price for the imports, a Notice of Award (NOA) will immediately be granted.
The winning bidder/s shall also be given four working days (April 30 to May 4) to post the performance bond. Afterwards, a Notice to Proceed (NTP) shall be issued May 7 (Monday).
With the NTP, the winning supplier may start shipping their awarded volume. It is estimated that loading at source and travel time up to designated Philippine disports will take 10 to 15 days.
“As soon as the stocks arrive, NFA will focus on immediate distribution. We assure that the rice will be quickly made available to areas in most need of government support, especially highly populated cities where poverty rate is high, in poor provinces, and in island municipalities across the country,” Aquino said.
He explained that NFA will implement strict market monitoring and enforcement to ensure that rice for the poor goes to the poor. NFA rice will continue to be sold at P27 and P32/kg nationwide.