Anakpawis Rep. Ariel Casilao is considering requesting an additional budget of P10 billion for the NFA from the Department of Budget and Management to buy more palay from farmers to augment its stocks. ADVERTISEMENT“Congress can overrule any position of the NFA Council. Low buying priceThe NFA has resorted to importing about 750,000 metric tons of rice this year instead of procuring from farmers. It cited the NFA’s low buying price, which cannot compete against prices being offered by private traders. The P10-billion supplemental fund was expected to buy around 700,000 MT of palay at a price between P18 to P22 per kilo, Casilao said.

Source: Philippine Daily Inquirer September 09, 2018 21:45 UTC