NFA struggling to boost stocks through local procurement
National Food Authority (NFA) Administrator Jason Aquino said the agency continues to struggle with local procurement of palay as farmers remained reluctant to sell their produce at a lower price set by the government.
“The NFA is also finding it hard to accomplish its palay procurement target because private traders were buying palay at much higher price of P18-P24 per kilogram (/kg) compared to the government’s support price of P17/kg,” a statement of NFA showed.
The NFA assured, however, that the total industry stocks are more than enough for the country’s national requirement.
According to the Philippine Statistics Authority (PSA), total industry stocks at 1.944 million metric tons are good to last for 62 days.
“The only problem now is the price. Although we have so much supply industry-wide, the government is finding it hard to pull down prices of commercial rice due to our limited inventory,” Aquino stressed.