"It will most likely be a 50-50 sharing," Abad said, adding that government wants to give farmers’ groups more opportunities to earn.
The NFA has yet to announce this year’s import schedule.
There will, however, be no restrictions to the purchase of premium rice by private companies. Unlike regular rice, an NFA import permit is not needed to purchase premium rice.
Last February, an inter-agency committee headed by the Department of Agriculture placed this year’s the shortfall at 390, 000 metric tons. The inter-agency committee estimates this year’s supply at 12.8 million metric tons of palay, which when processed is equivalent to 8.3 million MT of rice. The supply estimate includes the impact of the El Niño phenomenon.
Estimated rice consumption this year is 8.7 million MT.
The NFA is expected to go further in the red this year from 2001’s deficit of P4.3 billion It has short-term debts amounting to P17 billion, traced to its social mission of helping rice farmers by buying palay at a higher price than the private sector, on the one hand, and helping the poor by selling its rice at a lowest price than the private sector, on the other hand. – Margaret Jao-Grey