# Suppliers refuse to meet NFA price as rice auction fails again – BusinessWorld Online

> The Philippines' National Food Authority rejected Thai and Vietnamese bids in its second government-to-government auction for 203,000 MT of 25% broken long grain rice, as offers of about $480-483 per MT exceeded its $447.88 reference price. The shortfall follows the agency's earlier depletion of inventories.

- Date: 2018-11-13 · published 2018-11-13T12:00:00.000Z
- Category: trade · region Philippines · magnitude medium
- Page: https://feedsoft.ai/events/62119-suppliers-refuse-to-meet-nfa-price-as-rice-auction-fails-again-businessworld
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Failed tenders mean the Philippines is still short of import volume, which could keep Asian rice export prices supported if the country returns to the market at higher prices.

## Read by commodity

- RICE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2018-10-23 | [Unawarded rice import contracts to be rebid soon - BusinessWorld Online](https://feedsoft.ai/events/62617-unawarded-rice-import-contracts-to-be-rebid-soon-businessworld-online.md) | -3.3% | -0.6% |
| RICE | 2018-10-05 | [Pre-bid conference for rice importation draws 12 companies - BusinessWorld Online](https://feedsoft.ai/events/62618-pre-bid-conference-for-rice-importation-draws-12-companies-businessworld-online.md) | -0.9% | -1.3% |
| RICE | 2024-02-21 | [The impact of India’s rice export restrictions on global markets, supplies and prices \| The Business Standard](https://feedsoft.ai/events/31740-the-impact-of-india-s-rice-export-restrictions-on-global-markets-supplies-and.md) | -1.0% | -2.4% |
| RICE | 2022-12-02 | [Bulog rice buy: Exporters to meet Indonesia envoy - The HinduBusinessLine](https://feedsoft.ai/events/38206-bulog-rice-buy-exporters-to-meet-indonesia-envoy-the-hindubusinessline.md) | -5.8% | +1.4% |
| RICE | 2022-12-01 | [Asia rice: Thailand, Vietnam bank on new deals; few eye cheaper India supply - Markets - Business Recorder](https://feedsoft.ai/events/38308-asia-rice-thailand-vietnam-bank-on-new-deals-few-eye-cheaper-india-supply.md) | -6.2% | +0.5% |

## Sources

- bworldonline.com: https://bworldonline.com/editors-picks/2018/11/13/198938/suppliers-refuse-to-meet-nfa-price-as-rice-auction-fails-again/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.