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Sat, 19/05/2012 - 8:49 am.
DJ Philippines Buys 422,701 Tons Rice, Mainly From Vietnam
MANILA (Dow Jones)--The Philippines' National Food Authority said Thursday it bought 422,701 metric tons of rice, mainly from Vietnam, in a tender held last Friday. 
 
The NFA bought 410,701 tons of rice from four Vietnamese suppliers led by state-owned Vietnam Southern Food Corp. at a price range of $408.90-$410.99/ton, cost and freight basis.
It also bought 12,000 tons of Thai rice from trading firm Louis Dreyfus at $399.98/ton, C&F basis.

The rice imports are for shipment between January and March next year.  
 
The NFA was planning to buy a total of 450,000 tons, but the high prices offered at the auction deterred the agency from doing so, said NFA deputy administrator Ludovico Jarina. 
 
The Philippines imports rice to shore up domestic supply during the lean production months from July to September.

 
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