MANILA, Philippines - Seven groups participated in a Philippine auction for the right to import sugar, the country's National Food Authority (NFA) said on Tuesday, with total offers at 16,000 tons way below the bidding volume of 60,000 tons.

An official of the state sugar agency said Manila may rebid the remaining sugar import volume, but no date has been set so far.

"Most likely we will go for a rebidding because that is what's stated in the guidelines," Rosemarie Gumera, assistant to the Sugar Regulatory Agency administrator told reporters, adding the auction's thin offers were probably a result of stabilising local prices.

The sugar volume at tender is part of the 150,000 tons the country wants to import to rein in rising domestic costs after a similar jump in global prices on supply worries.