NFA sets new buying price for palay to help local farmers

The National Food Authority (NFA) Council has set a price range for buying palay in order to improve the income of local farmers.

President Ferdinand “Bongbong” Marcos Jr. said he called for a meeting with the NFA Council to discuss the price of palay, noting that it was decided that the buying price of dry palay would be P19 to P23 while wet palay would be priced at P16 to P19.

“Nagtawag ako ng meeting ng NFA Council para tingnan ang paanong puwedeng gawin para ang presyo ng pambili ng NFA sa palay, ‘yung wet at saka ‘yung dry, ay kailangan nating tingnan dahil nagbago na ang sitwasyon,” said Marcos, who chairs the NFA Council.

(I called for an NFA Council meeting to check the price in buying palay, the wet and dry ones, as the situation has changed.)

“At ganoon nga, ang pinag-meeting-an namin at nag-decide kami na ngayon ang buying price ng NFA mula ngayon ay sa dry ay P19 to P23, ang wet ay magiging P16 to P19. Iyon ang naging desisyon ng mga NFA Council," he added.

(We've decided that NFA's buying price of dry palay is at P19 to P23 while it will be P16 to P19 for wet palay.)

Marcos said the NFA Council set the buying price range to give Filipino farmers better income, adding that the originally proposed P20 and P25 buying price are too high and will increase retail prices.

The NFA Council noted that if the new buying price of dry palay is at P23, the procurement fund needed will be P15 billion at the maximum, while if it is pegged at P25, P16 billion will be needed for palay purchase.

The Department of Agriculture, which Marcos heads, said it would support the NFA proposal but at a level of P23 a kilo. It said that farmers are already satisfied with P22 or P23 since they are now being paid P16 to P19.

Meanwhile, National Economic and Development Authority (NEDA) chief Secretary Arsenio Balisacan said that at the farm gate level, NFA procurement will be concentrated in areas where there is excess supply relative to local demand.

“In that case it can help elevate farm gate price,” Balisacan said. — RSJ, GMA Integrated News