Tuesday, May 06, 2008

Rice auction fails

Headline ng Inquirer: NFA rice auction fails

A portion of the report reads:

THE PHILIPPINES, THE WORLD’S biggest rice importer, failed to buy new supplies of the staple on Monday after its auction attracted only one bidder, plunging Asia’s rice market into uncertainty.

National Food Authority (NFA) Deputy Administrator Ludovico Jarina said the fact that only one company submitted a bid—Vietnam Southern Food Corp. (Vinafood)—indicated “a tightness” of supply in the world market.

Yesterday’s auction was for 675,000 metric tons.

The auction was held in the midst of rising prices of rice in the country caused by uncertainty over the stability of supply. This has prompted the Arroyo administration to adopt several measures, such as a new distribution system involving issuing rice cards to the poorest households in Metro Manila to enable them to buy NFA rice, priced at P18.25 a kilo.

Teka, akala ko ba under control ang lahat? Ano itong balita ng Inquirer? Or this just adds to another Orwellian talk ni sitting duck... este, sitting president Gloria in the Palace? Kung sabagay, kelan pa nga pala siya nagsimula na magsabi ng totoo? When she she said she will not run?... Hmmmnnn

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