The “aging” rice stocks to be sold are those that have been in storage or warehouses for three to six months, the DA said in a statement on Wednesday. “There are two approaches: first, if certain provisions of the RTL (Rice Tariffication Law) will be amended and second, if an executive order will be issued allowing the DA to do this (import rice) under the Price Act. “A dry run of the cheaper rice program is already underway in select Kadiwa centers, and has been well-received by potential beneficiaries,” the DA said. Thus, the DA said it needs to import 363,697 MT of rice to augment national buffer stocks, while the NFA would procure 559,535 MT of palay from local farmers, as required by law. “The estimated cost of securing rice buffer stocks to cover 19 days of national consumption is at least P28.39 billion,” the DA said.

Source: Philippine Daily Inquirer June 20, 2024 09:31 UTC