• State-run National Food Authority (NFA) is optimistic that it can now compete better with private traders in buying local palay after it was allowed to purchase palay or unmilled rice by as much as P30 per kilogram.
  • The NFA council, the highest policy-making body of the grains agency, approved yesterday the NFA’s higher buying price for palay in a bid to boost the government’s rice buffer stock.
  • The higher buying price is aimed at allowing the NFA to purchase more palay from local farmers, thus beefing up its rice buffer stock that has been below target level.
  • The NFA will now buy dry and clean palay for P23 to P30 per kilogram, depending on the prevailing market price in a given province.