Inquirer
NFA rice stock up 485% in Jan., to further surge in Feb.
The National Food Authority's (NFA) rice stock inventory experienced a significant surge of 485.1 percent in January compared to the previous year, reaching 284,810 metric tons.
This substantial increase in NFA rice stocks is attributed to a higher buying price scheme for local palay, set between PHP23/kg to PHP30/kg for dry palay and PHP17/kg to PHP23/kg for wet palay.
NFA Administrator Larry Lacson explained that the improved buying prices allowed the agency to compete with traders and purchase more palay from local farmers.
Lacson anticipates that NFA rice stocks will continue to increase in the coming months due to upcoming harvests in February, March, April, and May.
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The National Food Authority (NFA) will begin releasing rice stocks to local government units (LGUs) by next week following the declaration of a food security emergency on February 4.
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The Department of Agriculture declared a food security emergency for rice on Tuesday, February 4, 2025, to address extraordinary increases in local rice prices.
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