Publication

Today the National Food Authority (NFA), the rice buying authority for the Philippines, held its first of three December tenders, with announced purchasing efforts for the month to total 1.8 million metric tons (mmt). Because of the string of tenders proclaimed widely to the press, reports that NFA buying might be 3.0 mmt before it is finished, and reports that India may buy 2–3 mmt, today’s prices are almost $150/ton greater than those paid by Manila less than one month ago.