Two state-owned export companies of Vietnam Tuesday submitted the lowest bids for contracts to supply the National Food Authority with a total of 800,000 metric tons of milled rice.
The NFA has a budget of some P17.18 billion, or $381.8 million, for the shipments that must be delivered in May until August.
This means that the government is prepared to spend a maximum of P21,477.60, or $477.28, per ton of rice.
Of the nine groups that expressed interest in the bidding, six submitted bids with five having been accepted.
Based on the bidding terms, the total purchase volume is divided into four lots of 200,000 metric tons each of 15-percent broken long grain white rice.
A bidder can offer a volume of as little as 100,000 metric tons, which means that up to two suppliers can win one lot.
Vietnam Southern Food Corp., or Vinafood 2, offered tenders for all four lots. Its bids for three lots appear to be the lowest at $437.75, $439.25 and $441.25, respectively.
Vietnam Northern Food Corp., or Vinafood 1, pursued two lots only, but its price offers were for four batches of 100,000 metric tons each.
For one lot, Vinafood 1 offered the first tranche for $436 per ton and the second for $445 per ton.
The first price point is lower than Vinafood 2’s tender of $436.50 per ton for the entire lot.
Based on these numbers, NFA officials cited the likelihood of Vinafood 2 being awarded contracts covering 700,000 metric tons, while Vinafood 1 may get a deal for 100,000 metric tons.
However, NFA spokesperson Rex Estoperez said in an interview the bidders would still have to go through a post-qualification process “which is mainly authentication” of the documents they submitted.
As in the pre-qualification round, a bidder must pass or fail.
The winners of the bidding “may be available early next week,” Estoperez said.
Other bidders included Singapore-based Louis Dreyfus Commodities Asia Pte. Ltd., which offered 100,000 metric tons for $469.31 a ton.
Thai Hua Co. Ltd. offered the same volume at $474.22 a ton.
Also, Singsong (Hong Kong) Ltd. vied for a contract for 100,000 metric tons at $475.68 a ton.