House moves to revamp NFA to lower rice prices

The House of Representatives is moving swiftly on a proposed revamp of the National Food Authority (NFA) aimed at lowering rice prices and stabilizing food supply.

Speaker Ferdinand Martin Romualdez stated that the measure responds to urgent needs such as helping farmers and ensuring stable food supplies.

During a Bagong Pilipinas public briefing, NFA Administrator Larry Lacson emphasized that restoring regulatory powers will enable the agency to keep rice prices within reach for both producers and consumers.

The draft bill allows the NFA to buy milled rice directly from farmers and cooperatives, enhancing their earning potential while improving food security during supply shocks.

Controlled importation limits are proposed during harvest season to protect local farmers from price crashes caused by imported rice surges.

Efforts to empower the NFA include setting floor prices for palay based on production costs and ceiling prices for rice to prevent excessive markups, aligning with the Marcos administration's governance framework.