Philippine National Food Authority set to import 250,000 MT tons of rice in May.

National Food Authority (NFA) said the planned government-to government (G2G) importation of 250,000 metric tons (MT) of cheap rice to serve as buffer stock is expected to stabilize the price of the food staple. NFA said in a statement on April 20. 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. The submission of price offers is scheduled on April 27, 2018. Should the bidders pass the requirements and the price offers are within or lower than the approved reference price for the imports, a notice to proceed with the importation would be sent to the winning bidder by May 7.