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The National Food Authority on Friday said it expects to exceed its palay procurement target in the first half of the year after the NFA Council increased the agency’s buying price of the grain staple.In a news release, the NFA said its target of 3.08 million bags of palay to be purchased from local farmers in the January to June period will be surpassed as total procured bags to-date stands at 97% of the goal.“At 2.
The NFA said, prior to the procurement price’s increase, the agency only had bought a total 142,244 bags of palay as private traders raised their buying price to secure rice supply in the face of El Niño.“We are also happy that our rice farmers, as envisaged by President Ferdinand Marcos Jr., are getting a financial windfall from the higher procurement price of the NFA,” said Tiu Laurel.
Palay Procurement Local Farmers Nfa Council Larry Lacson
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