NIA assures BBM rice sale at PHP29/kg, seeks PHP6B funds

The National Irrigation Administration (NIA) assured the sustainable sale of Bagong Bayaning Magsasaka (BBM) rice at PHP29 per kilogram for vulnerable sectors on Tuesday.

As of now, NIA has sold 1.14 million kilograms of BBM rice worth PHP33.15 million, benefiting 114,300 individuals nationwide and around 11,219 sacks in the Ilocos Region since its launch last Sept. 13 to Oct. 15.

NIA Administrator Eduardo Guillen said the agency is requesting an additional PHP6 billion in unprogrammed funds to sustain contract farming on 120,000 hectares of land.

The NIA plans to sell half of its contract farming harvest of around 300,000 metric tons (MT) of palay at PHP23 per kg to the National Food Authority (NFA), generating PHP6.9 billion in income.

Guillen expressed optimism about the President's goal to lower rice prices while ensuring farmers' incomes remain secure.