NFA: December palay procurement ‘achievable’By EIREENE JAIREE GOMEZhome/Business/Top Business/NFA: December palay procurement ‘achievable’THE National Food Authority (NFA) is optimistic on hitting its palay (unhusked rice) procurement target of 297,160 bags or 14.9 million kilograms (kg) for the rest of the year on the back of the agency’s buffer stocking incentive (BSI) for farmers and cooperatives nationwide. NFA acting administrator Tomas Escarez told The Manila Times the December target was “achievable”. For the first nine months of 2018, the NFA has procured 1.01 million bags, less than half of the agency’s total target of 2.6 million bags. As of the last week of November, the NFA has attained 98 percent of its procurement target for the month, which is way higher than the 48-percent growth procurement registered in October. The government-subsidized NFA rice is being sold at P27 and P32/kg, which is significantly lower than the typically commercial rice priced at P40/kg and above.

Source: Manila Times December 02, 2018 16:18 UTC