Daewoo, Vinafood 2 lowest bidders at Manila rice tender

MANILA, Nov 4 - Vietnam's Vinafood 2 and Daewoo International posted the lowest bids at a Philippine state tender for 250,000 tonnes rice on Wednesday, the country's first major purchase to secure 2010 supplies after being hit by typhoons. Officials from government grain agency National Food Authority (NFA) said six firms qualified to bid for the tender for 25 percent broken white rice.

Arrival is set for between January and April, and the NFA has a budget of 6.366 billion pesos ($133.9 million), or around $535 a tonne, cost and freight, at current exchange rates.

Vinafood 2 bid $480 per tonne C&F to ship 150,000 tonnes in January, officials said. Daewoo International offered to sell 100,000 tonnes at $468.50 per tonne C&F. The trading house has said it will source the rice from Thailand and/or Vietnam.

Asked if the NFA would hold another tender in December, deputy administrator Ludovico Jarina said it was possible if an inter-agency government committee decided that more imports were necessary.