DA nearing completion of bill to revive NFA functions

The Department of Agriculture (DA) is nearing completion of a draft bill to reinstate key regulatory and marketing functions of the National Food Authority (NFA).

This proposed legislation aims to amend the Rice Tariffication Law, empowering the NFA to manage buffer stocks, regulate distribution, set a floor price for palay, and support farmer cooperatives.

House Speaker Ferdinand Martin Romualdez stated the House of Representatives will swiftly act on the proposal once transmitted.

He emphasized that the NFA revamp bill would lower food prices, empower farmers, and protect consumers.

The measure would allow the NFA to directly intervene in the rice market by purchasing palay and releasing buffer stocks during emergencies or suspected market manipulation.

Romualdez also assured that efforts to empower the food agency would include transparency and good governance provisions, learning from past shortcomings.