NFA to flood markets with imported rice to lower price of commercial rice

MANILA, Philippines — The Department of Agriculture (DA) is not satisfied with the current price of commercial rice in the market.

Based on reports, the lowest price of rice remains at P36/kg.

Thus, the National Food Authority Council has decided to release the remaining 3.6M bags of rice which the NFA previously imported.

The agency has one month to do it.

Agriculture Secretary William Dar believes that by doing so the price of commercial rice will drop to P32/kg.

“We would like to believe that by flooding the market with 3.6 million bags of imported rice will further have an impact in terms of lowering the prices in the market,” Dar said.

The DA is also coordinating with the Department of Social Welfare and Development (DSWD) in relation to the P600 monthly rice allowance being provided to the beneficiaries of the government’s Pantawid Pamilyang Pilipino Program.

Dar proposed that instead of cash, the DSWD may provide the beneficiaries rice package from NFA’s procurement of local farmers’ yield.

The DA chief said this will help the farmers given the DSWD’s P28B budget next year for rice allowance.

Meanwhile, the NFA has increased the support price for dried palay to P19/kg from P17/kg.

The NFA removed, however, the incentives that the farmers receive for drying their harvest which amounts to P3.70/kg.

Despite this, Dar is confident that the farmers’ income will increase by P8,000 for each hectare of harvest.

https://ph.news.yahoo.com/nfa-flood-markets-imported-rice-100817580.html

 

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