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The National Food Authority is set to buy at least 300,000 metric tons of rice in 2025, with Agriculture Secretary Francisco Tiu Laurel Jr . optimistic that the country will hit a record for production of palay this year.In a statement released Monday, Tiu Laurel, who also serves as chairman of the NFA Council, said the agency will purchase the same amount of rice as it did in 2024, to cover 15 days of national consumption as mandated by the amended Rice Tariffication.
46 million metric tons of palay this year.“We’re now hopeful we could do better than 2023,” he said, as the prolonged drought in 2024 due to the El Niño phenomenon affected production. It is estimated to hit 19.3 million MT, lower than the record 20.06 million MT produced in 2023.The DA also expects to declare a food security emergency on rice on Wednesday, January 22, 2025, as prices of the commodity remain high.
Department Of Agriculture Francisco Tiu Laurel Jr NFA Rice Prices
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