The National Food Authority (NFA) had so far bought as much 5.7 million bags of unhusked rice this year as there are still farmers selling their yields despite onset of lean months.
As of July 25, the NFA has bought 271,852 bags of palay, overshooting procurement target of 159,540 bags by 170 percent for the month. This brought the agency’s total palay procurement since January to 5.7 million bags.
“Our procurement record, where we have been topping our targets since NFA’s mandate was revised to focus on local procurement for buffer stocking, shows that we have been effectively fulfilling our new role and helping farmers earn a reasonable income while consumers enjoy lower rice prices as a result of the rice import liberalization law passed early this year,” NFA administrator Judy Carol L. Dansal said.
“The law stipulates that we can buy only from local farmers so we have stepped up our procurement. That’s why we’re exceeding our targets,” Dansal said. Another factor that allows NFA to successfully carry out its procurement functions is the adjustment in NFA palay buying incentives.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
July inflation may ease further with cheaper rice, power rates – BSPPrice increases of basic goods likely softened further in July with cheaper rice and electricity rates, the Bangko Sentral ng Pilipinas said.
Read more »
Inflation likely at 2 to 2.8 pct in July: BSP think tank
Read more »
Free rides for students at MRT-3, LRT-2, PNR starting July – DOTrStarting August 1, students will also be exempted from paying terminal fees at the 40 domestic and international airports under the Civil Aviation Authority of the Philippines.
Read more »
NGCP wants customers to shoulder P10.6-million damage from bad weatherThe National Grid Corporation of the Philippines wants to recover P10.6 million to rehabilitate facilities damaged by rain and floods in July 2018.
Read more »