NFA rushes to purchase emergency stocks

The National Food Authority (NFA) would still fall short of the country’s required buffer stock even with its planned importation of 250,000 metric tons of rice, a representative of the agency’s administrator said.

“We are [already] rushing the terms of reference [for bidding], so that we can increase the buffer stock that would amount to 250,000 metric tons,” said Rachel Miguel, special assistant of the NFA administrator.

The NFA is required to build a support stock for 15 days for the whole year and 30 days for the lean months. The current inventory is only enough for six days.

About 32,000 metric tons of rice are consumed daily. The importation would only bolster the emergency stock for seven days. This meant an additional 544,000 metric tons were needed.

Miguel clarified the national inventory was still sufficient, only the buffer stock was not.

The buffer stock is for emergency purposes in times of calamity and for price regulation.

The NFA council would continue importing rice, but would have to prioritize for now the 250,000 metric tons, said Miguel.

Meanwhile, the NFA assured the public anew there was no fake rice being sold in the market. Laboratory results of samples taken from stores prove otherwise, it said. —MA. CASELDA D. CRUZ