NFA to release 150,000 tons of rice over six months

The National Food Authority (NFA) plans to distribute 150,000 metric tons of rice from its buffer stock over six months starting mid-February to mitigate high prices and address potential food security emergencies.

Around three million 50-kilogram bags will be released monthly to stabilize rice prices in areas affected by cost surges.

The NFA aims to procure palay at P23 per kilo, with the rice harvest season beginning mid-February.

NFA Administrator Larry Lacson assured that sufficient buffer stocks would still be maintained for emergencies despite the planned release.

This move follows the government's reduction of rice tariffs from 35 percent to 15 percent in July 2024 under President Ferdinand Marcos Jr.'s directive.