Traders eye 7,600-T rice import

ABS-CBN News

Posted at Jun 20 2008 12:12 PM | Updated as of Jun 20 2008 08:12 PM


Reuters


MANILA - Private traders sought to import only 7,600 tons of rice into the Philippines out of a maximum quota of 172,370 tons at a tender on Friday.

The Philippines, the world's biggest rice importer, is trying to encourage more private firms to purchase the grain from overseas but there is little interest due to high prices and difficulty competing against the government, which sells rice at a discount locally.

The National Food Authority (NFA), the Philippines' grain importing arm, is holding three private sector tenders for 200,000 tons of rice. Friday's tender was the second.

So far, including Friday, dealers have sought to import a total of 35,230 tons.