THE National Food Authority (NFA) is set to buy at least 300,000 metric tons (MT) of rice this year, with Agriculture Secretary Francisco Tiu Laurel Jr. optimistic that the country will hit a record for production of palay (unmilled rice).
Tiu Laurel, who also serves as chairman of the NFA Council, yesterday said the agency will purchase the same amount of rice as it did in 2024, to cover 15 days of national consumption as mandated by the amended Rice Tariffication.
Under its mandate, the NFA is tasked to maintain sufficient rice buffer stocks to be sourced mainly from local farmers. The agency, for its part, said it is also mandated to keep and dispose of 99.9% of stocks in good and consumable condition.
This comes as Tiu Laurel said the restoration of the P10-billion budget cuts for the rice program will allow the agency to implement strategies that aim at hitting the original target of 20.46 million metric tons of palay this year.
“We’re now hopeful we could do better than 2023,” he said, as the prolonged drought in 2024 due to the El Niño phenomenon affected production. It is estimated to hit 19.3 million MT, lower than the record 20.06 million MT produced in 2023.
The DA also expects to declare a food security emergency on rice on Wednesday, January 22, 2025, as prices of the commodity remain high.
This comes as the National Price Coordinating Council approved a resolution urging the DA to declare a food security emergency for rice given the prevailing prices.
The DA earlier this month announced a maximum suggested retail price (MSRP) of P58 per kilo for premium imported rice, with the possibility of having this lowered by next month should global trends dictate any adjustments.
Latest data from the price monitoring of the DA show that prices of rice in Metro Manila ranged from P40.00 to P59.77 per kilogram as of January 11. (GMA Integrated News)
