NFA Council Boosts Palay Buying Price to Support Local Farmers

NFA Council Boosts Palay Buying Price to Support Local Farmers

In a significant move to bolster the agricultural sector, the National Food Authority (NFA) Council has approved an increase in the buying price for palay (unmilled rice). The new price range for fresh palay is set from PHP 19.00 to PHP 23.00 per kilogram, up from the previous PHP 16.00 to PHP 19.00. For clean and dry palay, the price has been raised from PHP 17.00 - PHP 23.00 per kilogram to PHP 23.00 - PHP 30.00.

The Department of Agriculture’s Assistant Secretary and Spokesperson, Arnel de Mesa, stated that this adjustment aims to align the NFA’s buying price more closely with the prevailing market rates offered by private traders. This is expected to incentivize local farmers to sell their harvest to the NFA, thereby increasing the agency’s capacity to purchase from them.

NFA OIC Administrator Dr. Larry R. Lacson expressed optimism that with the new price range, the NFA would be able to meet its buffer stocking requirements and be more responsive to the needs of the farmers.

Additionally, the NFA Council has introduced a new guideline to adjust the selling price of NFA rice. The selling price will now reflect 80% of the prevailing market price for well-milled rice (WMR) for stocks aged 1-6 months, and 70% for stocks older than six months, based on data from the Philippine Statistics Authority (PSA).

This policy revision is not only expected to aid the farmers but also to encourage greater palay cultivation, potentially increasing the country’s rice inventory, as highlighted by DA Asec de Mesa.

In related news, the NFA has appointed Mario Go Andrada, PhD, as the Officer in Charge - Deputy Administrator and Concurrent Department Manager of the Corporate Planning and Management Services. Dr. Andrada, a veteran with over four decades at the NFA, is a Full-Bright Master’s Degree Scholar and holds a Doctorate from the Department of Grain Science and Industry in the USA.

The NFA’s proactive measures reflect a commitment to supporting the backbone of the nation’s food security—its farmers—and adapting to the dynamic demands of the agricultural industry.