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Private traders swamp bidding for rice imports

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Private traders swamp bidding for rice imports

Post by Guest on Fri Mar 25, 2011 2:38 pm

MANILA, Philippines - Private traders swamped the bidding conducted Wednesday by the National Food Authority (NFA) for the importation of 600,000 metric tons of rice using the tax expenditure fund (TEF).

A total of 35 bidders qualified of 59 interested bidders who showed up.

Administrator Angelito Banayo said the NFA was “pleasantly surprised” with the bids for the service fee for the use of the TEF.

The use of the TEF would be for the payment of the prevailing 40-percent tariff on rice.
Previously the service fee imposed by the NFA was only P25 per bag. However, for Wednesday’s bidding, the NFA raised the minimum to P100 per bag.

According to Banayo, the highest bid submitted was P115.25 per bag or 15.25 above the P100 minimum set by the NFA at P100 per bag.

Banayo also expressed satisfaction that Wednesday’s bidding which lasted 12 hours from 9 a.m. to 9 p.m. “was a real bidding, since the bids were quite disparate.”

The NFA bids and awards committee (BAC) will subject the qualified bidders to a post-qualification process to verify the documents that the bidders submitted.

Banayo said, the NFA would meet again with the qualified bidders to verify the intended “disport” or where they will bring in the rice.

The NFA has specified that at least 60 percent of the rice must be brought in through Luzon and only 40 percent through Mindanao.

The review process could take two weeks. The NFA wants to ensure that the winning bidders have the capability to bring in the rice at the right time.


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