NFA to Increase Buying Price of Palay to ₱24/kg to Support Farmers

MANILA, Philippines – The National Food Authority (NFA) is set to increase the buying price of palay to ₱24 per kilo, aiming to support rice farmers amid reports of falling farmgate prices.

NFA Administrator Larry Lacson stated that the agency is verifying reports of fresh palay being sold as low as ₱13 to ₱14 per kilo. If confirmed, the NFA will adjust its buying price next week to stabilize the market and provide farmers with a better income.

Currently, NFA buys wet palay at ₱18-₱19 per kilo and dry palay at ₱23 per kilo. The planned increase could add up to ₱5,000 in earnings per farmer, potentially prompting private traders to offer more competitive rates.

LGUs Urged to Buy NFA Rice

Meanwhile, the NFA has urged local government units (LGUs) to purchase NFA rice stocks, which are stored in full-capacity warehouses. Some markets still sell rice at ₱42 per kilo, despite the food security emergency declaration allowing LGUs to buy rice at ₱33 per kilo and sell it at ₱35 per kilo.

With the agency’s warehouses at full capacity, NFA cannot purchase newly harvested rice unless more stocks are released.

The Department of Agriculture (DA) has already begun distributing NFA rice stocks to LGUs, aiming to stabilize retail prices and ensure adequate supply.