NFA urges immediate rice importation amid low stocks
The National Food Authority (NFA) has called on the interagency National Food Security Committee (NFSC) to provide an importation recommendation which is needed for the sought shipment of 250,000 metric tons (MT), crucial in buoying up government’s stocks now at a low level.
“Our [rice] inventory is low, that is why NFA management is urging the immediate replenishment of its buffer stock through importation,” NFA Spokesman Rebecca Olarte was quoted in a news report.
The NFA Council (NFAC), the highest policy-making body of the NFA, recently approved a standby authority to import 250,000 MT of rice.
The NFA is just awaiting the volume that will be approved by the NFSC, which recommends the volume of rice that should be imported based on the sufficieny of local rice stocks in relation to domestic demand.
Current rice inventory at the state-run grains agency is good for only three days, way below the 15-day buffer stock the agency is mandated to maintain at any given time.