Federation of Free Farmers Cooperative chief Raul Montemayor tells Rappler the release of NFA stocks at P35 per kilo may not prompt private traders to sell at lower prices since it means losing money
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The NFA carries the well-milled variety of rice. Around 300,000 metric tons are currently stored in their warehouses, and 150,000 metric tons are set to be released within six months if the food emergency lasts until then. That’s a total loss of around P1.8 billion to P2.25 billion for the 150,000 metric tons of rice to be released. Will private traders follow suit?
The effect of cheaper NFA rice — which the government is betting on to influence retail prices of other rice varieties — will thus have less impact. “Kung deklarasyon lang at hindi naman hahabulin ang nagsasamantala, hindi binabantayan itong sistema ng pag-import, hindi sasampahan ng kaso itong mga nagsasamantalang trader, deklarasyon lang iyan,”
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