NFA shelves plan to import 330,000 tons of rice READ MORE:
Agriculture Undersecretary Mercedita Sombilla said Monday the NFA was urged by the national government to stockpile rice from local sources in response to what President Ferdinand Marcos Jr., as concurrent Agriculture Secretary, had advised earlier.
Farmers complained of very strict buying conditions from the NFA, which requires a very low moisture content of 14 percent, while traders buy palay from farmers even at 16 to 18 percent moisture content. Based on the rice supply outlook for 2023, the country’s estimated supply of 16.98 million MT is sufficient to cover the demand of 15.29 million MT.
Meanwhile, the Federation of Free Farmers urged Congress to immediately reassess and amend the Rice Tariffication Law of 2019 amid the current spike in rice prices, which the group said could lead to a rice crisis later this year. Based on official data from the Philippine Statistics Authority and import volumes recorded by the Bureau of Customs, the FFF estimated palay output in 2022 at only 16.4 million.
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