NFA set to release rice stocks next week at PHP33/kg

The National Food Authority (NFA) is planning to release its rice stocks next week following a food security emergency declared on February 4.

Over 50 local government units from various regions have signified their intent to procure rice from the NFA, according to Agriculture Secretary Francisco Tiu Laurel Jr.

Documentation between the NFA, Food Terminal Inc. (FTI), and LGUs still needs to be completed before any release can occur.

The NFA is ready to sell its buffer stocks at PHP33 per kilo through FTI for distribution to consumers at PHP35/kg.

Retail rice prices may drop to PHP49/kg by March 1 as new stock arrivals from Southeast Asian countries are expected, with the DA aiming to reduce MSRP closer to PHP42-45/kg.