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Gov't may lose P1.18 B monthly - farmers
The Philippine Star
|June 21, 2024
The government will lose at least P1.18 billion monthly with the National Food Authority Council's decision to sell old rice stocks at P29 per kilo through Kadiwa stores, the Federation of Free Farmers said yesterday.
The NFA needs to subsidize P6 per kilo or P414 million monthly to service 6.9 million households if the palay was bought at P23 per kilo, or P1.18 billion monthly if the palay was procured at P30 per kilo, FFF national manager Raul Montemayor told The STAR.
Agriculture Secretary Francisco Tiu Laurel Jr. on Wednesday said the NFA Council, which he chairs, has approved the recommendation to sell aging but good NFA rice stocks at P29 per kilo through Kadiwa stores.
This story is from the June 21, 2024 edition of The Philippine Star.
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