February 9, 2015
Sugaronline
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), according to the Philippines' Rappler.
PHP38 million (US$856,732) worth of imported sugar and rice will be auctioned off this month at the Port of Manila (POM) and Port of Batangas, officials said.
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 2014/15 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.
Reference: http://sugaronline.com/website_contents/view/1239310#sthash.lhvfkzJA.dpuf