NFA to sell 700,000 bags of rice at P33 per kilo

National

FOLLOWING the declaration of a food security emergency, the National Food Authority (NFA) will begin selling 700,000 bags of rice at P33 per kilo to local government units (LGUs) this week.

Department of Agriculture (DA) Assistant Secretary and spokesman Arnel de Mesa said the NFA rice stocks sold to LGUs could then be resold at P35 per kilo.

In a report by Philippine Star, De Mesa added some procedural refinements are still required between NFA, Food Terminal Inc. (FTI), and LGUs to facilitate the release of the initial 700,000 bags of NFA rice, anticipating these processes will be completed this week.

Through the declaration, the NFA is now authorized to sell its rice stocks, with priority given to Metro Manila and areas with high retail prices, the highest being Cebu in Region 7.

Furthermore, De Mesa stated that the release of NFA rice stocks is essential to clear warehouse space for the upcoming harvest from local farmers expected to peak from March to April.

He then affirmed that DA Secretary Francisco Tiu Laurel Jr. will lift the emergency as soon as the goal of lowering retail rice prices is reached.

In addition to the issue on food security, DA has set a P55 maximum suggested retail price (SRP) for imported special rice.

Despite the SRP, DA monitoring revealed that imported special rice in Metro Manila markets is still being sold for as high as P60, while other varieties also exceed suggested prices, with premium, well-milled, and regular rice reaching P58, P45, and P46 per kilo, respectively.

De Mesa noted that although retailers do not comply with the SRP, they will not receive notices of violation to allow their current stock to be sold out.(MyTVCebu)