The National Food Authority (NFA) Friday bought 250,000 metric tons of rice from Vietnam Southern Food Corp. and trade house Daewoo International Corp. to shore up the country's domestic supply next year.

The state-owned National Food Authority signed a deal to buy 100,000 tons of 25% broken grade from Daewoo at $468.50/ton, cost and freight basis, and another contract to purchase 150,000 tons of the same grade from Vietnam Southern Food Corp., or Vinafood 2, at $480/ton, C&F.

The contracts were based on offers made at a tender held Wednesday by the NFA.

The imports are for shipment between January to April next year.

Earlier, the NFA said it has the option to buy another 62,500 tons of rice over the next six months at prices offered during Wednesday state’s tender for 250,000 tons, a government official said.

“Under the law, we are allowed to re-order 25 percent of the tendered volume,” said Rex Estoperez, spokeman at the NFA.

“The prices are valid for six months and if prices at the tender are better than market prices six months from now, we can re-order,” he said.