DA proposes importers share rice buffer stock responsibility

The Department of Agriculture (DA) proposes amending the Rice Tariffication Law to require rice importers to share the responsibility of maintaining the country's buffer stock.

Agriculture Secretary Francisco Tiu Laurel Jr. clarified that the National Food Authority (NFA) will not regain sole authority over rice importation, which will remain with the private sector.

Under the proposed 'controlled model,' similar to the sugar import program, importers would be allocated import permits and would need to contribute to the buffer stock.

Secretary Laurel suggested a 50-50 split for the 20-day buffer stock target between the NFA and the private sector.

A key component of the amendment is obligating importers to purchase palay from local farmers at fair prices for the buffer stock.