Traders Outpace NFA in Palay Purchases During Harvest

The National Food Authority (NFA) is encountering obstacles in its palay procurement efforts this harvest season, as local traders are offering higher prices than the government agency. Larry Lacson, the Officer-in-Charge Administrator of the NFA, shared the challenges they face in matching the market rates, with traders bidding around PHP 25 to PHP 27 per kilo, surpassing the NFA’s maximum offer of PHP 23 per kilo.

Lacson refrained from guessing the traders’ motives but acknowledged their acute need for palay, which inadvertently aids farmers by boosting their earnings. He highlighted the positive aspect of these transactions, emphasizing the substantial profits for farmers, allowing them to reap the benefits of the current season.

Moreover, despite the NFA’s procurement rate standing at a mere 6.48% for the quarter, Lacson remains optimistic. He plans a visit to Mindoro to improve the procurement figures. Despite these procurement struggles, the NFA assures that the country’s rice supply is stable. With existing stockpiles and ongoing purchases, along with a yield surpassing previous years, the NFA confirms there is no cause for concern regarding rice scarcity.