Asian rice suppliers keep wooing RP<\/p>\n
MANILA (Reuter): Asian rice exporters continue to woo the
\nPhilippines which has embarked on a rice procurement program,
\nofficials at the Philippine Agriculture Department said
\nyesterday.<\/p>\n
The latest batch of prospective rice sellers to Manila include
\nMalaysia, India and Pakistan, they said.<\/p>\n
Malaysia and India had offered to supply up to 100,000 tons of
\nrice each to the Philippines, a senior official at the department
\ntold Reuters.<\/p>\n
Last week, Agriculture Secretary Salvador Escudero said the
\nstate-owned National Food Authority (NFA) was negotiating with
\ntwo Pakistani rice suppliers to buy more rice.<\/p>\n
Agriculture officials said the NFA was unlikely to tap the
\nIndian rice market due to a \"bad experience in the past\".<\/p>\n
The official did not elaborate but traders said supplies from
\nIndia had not met quality standards. NFA had imported rice from
\nIndia in the past two years.<\/p>\n
President Fidel Ramos has authorized the NFA to import up to
\n650,000 tons of rice before the onset of the seasonally lean
\nthird quarter.<\/p>\n
NFA has so far clinched deals for the supply of 205,000 tons
\nof rice from Thailand. It has also signed separate contracts for
\nthe supply of 100,000 tons each from China and Vietnam, with an
\noption to buy an additional 100,000 tons each from both
\ncountries.<\/p>\n
Grains traders had earlier expressed doubts on China's
\ncapability to export such volumes to the Philippines, but
\nofficials of the Agriculture Department said the contract
\nstipulated China could souce the commodity from Thailand, Vietnam
\nand even Pakistan.<\/p>\n
NFA deputy administrator Gregorio Tan said his department has
\nkept all negotiations on the country's rice imports under wraps
\nso as not to stir up prices in the region.<\/p>\n
The NFA also denied any anomalies on its rice imports.<\/p>\n
Earlier today, Tan denied in an interview with radio station
\nDZRH that NFA bought \"overpriced\" rice from Vietnam in response
\nto reports that Vietnam rice was being traded around $235 per ton
\nFOB against the $291.50 C&F clinched by the NFA.<\/p>\n
\"Even if it's true that you can buy rice at $235 per ton FOB,
\nyou are not sure that you can bring out the rice because the
\nVietnamese rice market is a regulated market,\" Tan said.<\/p>\n
Tan said the NFA signed a contract with Vietnam Food Corp at
\nthe time the price of Thai rice was trading at $304 to $310 per
\nton. The Thai rice market is used as a benchmark for Asian rice
\nprices, he said.<\/p>\n
NFA bought the Chinese rice at $291.50 per ton C&F and the
\nThai rice at $300 per ton C&F.<\/p>\n
Tan said the NFA negotiated with a state-owned company of
\nVietnam to import rice to ensure immediate supply before July
\nthis year. \"During the years between 1992 and 1995, private and
\nprovincial government units in Vietnam had inked export
\ncommitments with other countries but were unable to effect
\ndeliveries,\" he said.<\/p>",
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