THE NATIONAL Food Authority (NFA) has placed again over 740,000 bags of aging rice stocks up for auction on August 12 after failing to attract buyers in the initial auction last June.
According to a notice posted in NFA’s website, a total of 741,570 bags of local milled rice aged over six months will be up for auction. It has a corresponding total transaction value of P1,068,144,811.
The said aging rice stocks stored in different NFA warehouses nationwide were supposedly auctioned last June 30.
“It’s re-auction. Failed yung last June 30,” NFA administrator Larry Lacson told GMA News Online. “Walang sumali (no one joined).”
In the notice, the pre-auction conference is scheduled on August 5 while the opening of auction tenders will be held on August 12.
“The bidder may inspect the aging rice stocks in the concerned NFA Branch Offices from August 05 to August 10, 2026, 8:00 a.m. to 5:00 p.m., (working days only),” the notice read.
Interested bidders must pay an auction bond equivalent to at least 10% of the total amount of bid/offer per lot.
The auction is open to farmers’ organizations, cooperatives, groups and legitimate business entities. (GMA News)
