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NFA starts buying palay to boost buffer stocks

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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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