No plan to import more rice - NFA

MANILA, Philippines - The National Food Authority (NFA) has no plans to import more rice this year as it continues to build up its buffer stock which now stands at 1.525 million metric tons or equivalent to 42 days supply.

The NFA is aiming to buy 2.1 million bags of palay up to the end of April.

In an interview yesterday, NFA marketing director Romeo Jimenez said the NFA continues to build up its rice stocks with the arrival of imported rice and its procurement of local palay or paddy rice.

However, the agency’s position can change if there is an “abnormal situation” resulting from a severe weather disturbance during the rainy season, Jimenez said.

The daily average procurement of the NFA in the last three months jumped from 9,211 bags per day in the first week of February to 57,611 bags in the second week of April. 

The summer harvest or palagad usually starts in the middle of February, peaks by April and sometimes continues until May in regions where there are late harvests.

Because it is still the peak harvest month, the NFA’s current buying price for palay in Nueva Ecija now ranges from P15.50 to P16.20 per kilo.

The NFA had secured its imported rice stocks from four biddings held from November to December last year, the stocks of which are just now arriving up to July this year.