June 13, 2024 - The National Food Authority (NFA) achieved a remarkable feat on Thursday, June 13, 2024, exceeding its target palay procurement for the first half of the year by a significant margin.
NFA Administrator Larry Lacson announced that the agency successfully procured a total of 3,363,100 bags of palay, equivalent to 168,155 metric tons, surpassing their initial target of 3,080,000 bags. This translates to an impressive 109% accomplishment rate.
"Today, we already hit more than our target for January to June, 2024," declared Administrator Lacson. "This is a testament to the NFA's dedication to supporting our local farmers and ensuring a stable supply of rice for Filipinos."
This achievement is attributed in part to the agency's continued implementation of the Price Range Scheme (PRICERS) program. PRICERS offers farmers a competitive price for their palay harvest. Under the program, the NFA buys wet palay at Php 17 to Php 23 per kilogram, while clean and dry palay fetches Php 23 to Php 30 per kilogram. This pricing structure incentivizes farmers to sell their produce to the NFA, contributing to the agency's buffer stock and ultimately, national rice security.
The success wasn't uniform across all regions. NFA Bicol, for instance, reportedly surpassed its target by a staggering 442%, procuring 313,485 bags against a target of just 51,500 bags. Similarly, the NFA Cagayan Branch Office exceeded its goal by acquiring 541,510 bags compared to their target of 528,000 bags.
While these regional highlights are commendable, Administrator Lacson emphasized the importance of sustained efforts throughout the remaining months. "We are halfway through the year, and we have achieved more than what we set out to do. However, we cannot rest on our laurels. We will continue to aggressively procure palay to ensure we have sufficient buffer stocks for the latter part of the year," he stated.
The NFA's accomplishment is a welcome development for the Philippines' rice industry. By exceeding its target and offering competitive prices to farmers, the agency is contributing to price stability and ensuring a steady supply of affordable rice for Filipino consumers.