Philippines seeks 25.0pc more rice from suppliers
Tuesday, 5 January 2010
SINGAPORE, Jan 4 (Bloomberg): The Philippines asked suppliers to sell 25 per cent more rice than contracted in tenders since November, an official said, taking planned imports by the world's biggest buyer to about 7.4 per cent of the global trade.
The state-run National Food Authority, which has bought about 1.8 million metric tons of the grain since November for delivery this year, used its options to order an additional 450,000 tons, Marketing Director Romeo Jimenez said Monday.
"We haven't discussed any new tender because of the re-order," Jimenez said in a phone interview from Manila. The country may secure as much as 2.25 million tons if suppliers agree to sell at prices settled in tenders awarded in the last quarter, he said.
The nation accelerated purchases last quarter after storms damaged 1.3 million tons of rice crops and amid concern India, the second-largest rice grower and consumer, may become a net importer this year, draining global supplies. National Food's planned purchases of 2.25 million tons this year compares with the global trade estimated at 30.35 million tons by the US Department of Agriculture in December.
The state-run National Food Authority, which has bought about 1.8 million metric tons of the grain since November for delivery this year, used its options to order an additional 450,000 tons, Marketing Director Romeo Jimenez said Monday.
"We haven't discussed any new tender because of the re-order," Jimenez said in a phone interview from Manila. The country may secure as much as 2.25 million tons if suppliers agree to sell at prices settled in tenders awarded in the last quarter, he said.
The nation accelerated purchases last quarter after storms damaged 1.3 million tons of rice crops and amid concern India, the second-largest rice grower and consumer, may become a net importer this year, draining global supplies. National Food's planned purchases of 2.25 million tons this year compares with the global trade estimated at 30.35 million tons by the US Department of Agriculture in December.