Higher buying price boosts NFA palay procurement in July

State-run National Food Authority (NFA) saw its palay procurement in July surge to over 11,000 metric tons (MT) thanks to higher buying price despite the onset of the lean season.

- JASPER EMMANUEL ARCALAS

The NFA said it purchased about 11,212 MT of palay or unmilled rice from local farmers, higher by more than 2,800 percent than the 383.65 MT it bought in the same month of last year.

The NFA noted that it surpassed its palay procurement target of 10,045 MT by 11.6 percent despite July being the start of the lean season or when palay harvest in the country is minimal.

"This success is largely attributed to the ongoing PRICERS program, which effectively encouraged more farmers to deliver and sell their palay harvests to the NFA, particularly in regions experiencing sporadic harvests," the agency said in its latest accomplishment report.