MANILA – Agriculture secretary Emmanuel Piñol is optimistic that the National Food Authority (NFA) will hit its target to procure some seven million bags of paddy rice or palay from local farmers as the agency prepares for the implementation of the rice tariffication law.
Since the NFA will no longer be importing rice under a liberalized rice trading scheme, the agency has to intensify its local procurement to keep its buffer stock in check.
“We are projecting na in eight months mauubos na ‘yung imported na bigas ng NFA and we have to prepare for that period September, October, November, December na hindi na mag-i-import ang NFA,” Piñol said in a press conference in Pasay City.
With an initial budget of P7 billion, the NFA aims to procure 350,000 metric tons of palay locally through its Buffer Stock Incentives (BSI) program.
“That would be about seven million bags of paddy rice,” he said.
Under the BSI, the NFA will buy palay from local farmers at a buying price of P17 per kilo plus an incentive of P3.70 per kilo for a total of P20.70 per kilo.
“Yes, I’m optimistic this can be hit or more…,” Piñol said.
The Agriculture chief’s optimism stems from the NFA’s purchase of one million bags of paddy rice in the first 15 days of the year.
“Lumakas ang local procurement… We will be focusing on local procurement,” Piñol said. (GMA News)
