DA releases NFA rice stocks
With the P9 billion allocated by President Ferdinand Marcos Jr. for NFA’s rice procurement this year, and the remaining funds from last year’s record purchases, we aim to buy even more palay from farmers
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With the P9 billion allocated by President Ferdinand Marcos Jr. for NFA’s rice procurement this year, and the remaining funds from last year’s record purchases, we aim to buy even more palay from farmers
Share
The Department of Agriculture (DA) has released rice stocks from the National Food Authority (NFA) to local government units following the declaration of a food security emergency amid rising rice prices.
Agriculture Secretary Francisco P. Tiu Laurel Jr. on Wednesday handed over rice supplies to the Metro Manila Council (MMC) at a ceremony at the NFA warehouse in Valenzuela City.
Laurel said they expect more local government units to participate in this effort.
“With the P9 billion allocated by President Ferdinand Marcos Jr. for NFA’s rice procurement this year, and the remaining funds from last year’s record purchases, we aim to buy even more palay from farmers,” Laurel said.
The NFA had planned to release around 25,000 metric tons per month during the food security emergency, with the possibility of increasing the volume if needed.
According to the DA, the rise in rice prices was triggered by India’s ban on the export of non-basmati rice in August 2023 and heightened global demand due to reduced harvests from El Niño in early 2024.
The DA’s latest price monitoring showed that imported special rice in major wet markets in Metro Manila is averaging P56 per kilo, with premium rice priced at P53, well-milled at P45 and regular milled at P42 per kilo.
