rice tender - Mercedes-Benz Forum

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post #1 of 1 (permalink) Old 05-04-2008, 10:36 PM Thread Starter
BenzWorld Elite
Date registered: Feb 2006
Vehicle: 1999 ML320
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rice tender

One offer is still more than zero.
Obviously, the filipinos still think they hold the aces.
Philippines Cancels Rice Tender on Lack of Offers (Update1)

By Luzi Ann Javier
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May 5 (Bloomberg) -- The Philippines, the world's biggest rice importer, canceled a tender to buy 675,000 metric tons after just one company submitted an offer, highlighting the tightness of supply in the global market after prices jumped to a record.

Vietnam Southern Food Corp. was the only company offering the grain, National Food Authority Deputy Administrator Vic Jarina said today. Still, Vinafood failed to submit a bank guarantee, a requirement for the tender, Jarina said.

The Philippines failed to fill a tender last month, helping rice prices rise to a record in Chicago on April 24. Philippine Agriculture Secretary Arthur Yap said on May 2 that today's tender was intended to boost the nation's stockpiles.

Exporters from Thailand would not take part in today's tender as their government can't guarantee contracts, the commerce ministry said on April 28. Vietnam, the world's second-biggest rice exporter, may also not take part, the Vietnam Food Association said on April 29.
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