NFA raises palay buying prices, says Bongbong Marcos | Inquirer Business

NFA raises palay buying prices, says Bongbong Marcos

By: - Reporter / @JMangaluzINQ
/ 01:48 PM September 18, 2023

MANILA, Philippines — The National Food Authority’s buying prices of palay were increased to P19 -P23 per kilo for dry and P16 -P19 per kilo for wet amid the ongoing rice price cap, said President Ferdinand Marcos Jr on Monday.

Marcos, the concurrent agriculture secretary and chair of the National Food Authority (NFA) Council, said this was done in response to the changes in market conditions and to improve farmers’ income.

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“Nag-decide kami na ngayon ang buying price ng NFA mula ngayon ay sa dry ay P19 to P23, ang wet ay magiging P16 to P19. Iyon ang naging desisyon ng NFA Council, said Marcos in a Palace statement.

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(We decided to set the palay buying price of NFA from now at P19 to P23 for dry and wet will be P16 to P19. That’s the decision of the NFA Council,” said Marcos in a Palace statement.

“Mayroon na silang pagkikitaan. At bukod pa roon, nandiyan na ‘yung price cap para maikalma natin itong nangyayari sa rice prices,” the President said.

(They will have a source of income. Other than that, the price cap is still there to calm down what is happening to our rice prices.)

READ: Higher production costs, low gov’t buying price add to rice crisis specter

Prior to this, the NFA was buying palay for P19 per kilo according to their website, but it did not specify if it was for wet or for dry palay.

READ: Over 600 Bulacan farmers get higher buying price for palay

The original price change proposals were P20 for wet and P25 for dry, but the Palace explained these were too high and it would affect retail prices.

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