Farmers in Mangaldan, Pangasinan are choosing to store their palay harvests instead of selling them immediately due to a significant decline in buying prices.
Current rates have dropped to as low as P17.50 per kilo for freshly harvested palay, a sharp contrast to last year’s P27 to P28 per kilo. For dried palay, prices range from P22 to P23 per kilo, prompting farmers to wait in hopes of better market conditions.
Eddie Mayugba, a local farmer, has been drying 50 sacks of palay from his half-hectare farm for two days, opting to store them instead of selling at a loss.
As the harvest season continues, the National Food Authority (NFA) is encouraging farmers to sell their palay to the agency, assuring them of fair prices while strengthening the country's food security.
The NFA aims to procure 870,000 metric tons of palay nationwide this year, with purchases benefiting not just local farmers but also provinces struggling with rice production.
“Our deliveries from Eastern Pangasinan don’t just serve the province but also support other regions with limited palay production,” said Shoreen Manglinong, Acting Assistant Branch Manager of NFA-Pangasinan.
Despite the price slump, the NFA assured that rice and palay stocks across Pangasinan remain stable.