State-run National Food Authority is optimistic that it can now compete better with private traders in buying local palay after it was allowed to purchase palay or unmilled rice by as much as P30 per kilogram.
The NFA council, the highest policy-making body of the grains agency, approved yesterday the NFA’s higher buying price for palay in a bid to boost the government’s rice buffer stock.MANILA, Philippines — State-run National Food Authority is optimistic that it can now compete better with private traders in buying local palay after it was allowed to purchase palay or unmilled rice by as much as P30 per kilogram.
“The buying price was increased so that the NFA can catch up with the price being offered by traders today,” Agriculture Assistant Secretary and spokesperson Arnel de Mesa said in a press briefing. The NFA used to follow a fixed buying price set by the NFA council across all its buying stations nationwide, with additional price incentives being given to farmers depending on the quality of the palay sold.
“There is no uniform price nationwide unlike before. It is now on a per province basis. We will issue a price bulletin for each province,” Lacson said.
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