NFA exceeds rice buffer stock target

The National Food Administration (NFA) said it has built up a buffer stock of 7.17 million 50-kilo bags of milled rice across its network of storage facilities, the agency's highest inventory level since 2020.

- By DEXTER BARRO II

Data from the Philippine Statistics Authority (PSA) showed that this is around 1.61 million metric tons (MT), as of March 1.

This figure indicates an increase of 18 percent from the 1.37 million MT recorded during the same period last year.

In a statement on Tuesday, April 22, the NFA said its buffer stock—which is enough to feed all Filipinos for nine days—was aided by the increase in its buying price of palay or unmilled rice.

It noted that the buying price averaged P27 per kilo last year and is now averaging around P24 this year. Essentially, a higher purchasing price means the agency can match or exceed the offer of private traders.

However, despite the stockpile, NFA Administrator Larry Lacson said the agency still has enough funds to procure more palay from local rice farmers.