October 3, 2003



Philippines Fails To Buy 150,000 Ton Corn


The Philippines said on Friday that it had failed in a re-tender to buy 150,000 tonnes of Chinese yellow corn. It was the second attempt by state trader National Food Authority.


Offers were originally given on September 10 but high prices prevented a deal from being struck.


The lowest offer at that time was $120.95 per tonne C&F. The imported corn was to boost existing stocks of the crop, which suffered severe production losses due to a typhoon in July.