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The National Food Authority has secured the budget to procure palay for the remaining months of the year as part of its buffer-stocking mandate.In a statement on Thursday, Agriculture Secretary and NFA Council chairman Francisco Tiu Laurel Jr. announced that the P9-billion palay procurement funding will be released by the Department of Budget and Management in equal installments for the final three months of the year.
NFA Administrator Larry Lacson said the timely release of the budget will enable the agency to purchase approximately 7.2 million 50-kilo bags of palay at P25 per kilo.“This volume aligns well with the NFA’s wet season palay procurement target of 6.4 million to 8.7 million bags,” added Lacson, indicating NFA’s commitment to meeting its procurement goals.The NFA has adjusted its buying price range to P23 to P25 per kilo.
Palay Procurement National Food Authority
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