Customs to sell P38M seized sugar and rice
MANILA, Philippines – Rice, sugar, and other goods seized by authorities will be up for sale in public auctions to be conducted by the Bureau of Customs (BOC).
P38 million worth of imported sugar and rice will be auctioned off this month at the Port of Manila (POM) and Port of Batangas, officials said.
The BOC also said that it will also sell 53,637 sheets of plywood – worth a total of P6 million – and 3,000 bags of quartz at the POM.
Meanwhile, a used Nissan Almera will be up for sale in Batangas Port.
4,016 bags of refined sugar seized by authorities will be auctioned off at the POM on February 13.
The goods arrived at the port in May 2013, and has been under the port's custody since, said POM district collector Mario Mendoza.
The auction of some of the overstaying cargo is meant to raise revenues, Mendoza added.
However, only bidders who are registered traders with the Sugar Regulatory Administration (SRA) for 2014-2015 will be allowed to participate in the auction.
“Application for clearance and notice to withdraw auction sugar should be filed by the winning bidder to SRA prior to release,” Mendoza said.
Meanwhile, the sale of 1.25 million kilograms of rice in Batangas Port will be held on February 16.
The 25,000 bags of rice arrived at the port last December 2013. The seized rice is pegged at P25.87 per kilo.
Collector Ernesto Benitez Jr said the highest bidder will win the auction, except when "clustering" occurs – when the difference between the highest and lowest bid is within 10%.
"In such cases, an open bidding shall be conducted among the bidders of the particular sale lot who are present with the highest bid serving as the new floor price," Benitez said. – Rappler.com