NFA starts buying palay to boost buffer stocks

The National Food Authority began aggressively buying palay at higher prices on Monday, seeking to boost buffer stocks.

“This new pricing scheme will mark a new era for NFA palay buying,” said NFA acting administrator Larry Lacson. Clean and dry palay must be at least be 90 percent pure with a moisture content of 14 percent or less, while fresh/wet palay is acceptable at a moisture range of 22 to 29.9 percent.Previously, buying prices ranged from P16 to P19 per kilo for fresh/wet palay and P19 to P23 per kilo for clean and dry.The NFA abandoned a single pricing system to better compete with private traders and support local government efforts to improve farmers’ income.

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