In a statement, NFA said commercial rice prices at P22 per kg and P24 per kg for the RMR and well-milled varieties, respectively, should not be considered as speculative pricing since palay procurement prices are at P11 to P12 per kg.
The NFA said that the current high buying price for palay is a boost for the farmers who have to contend also with increases in the cost of inputs such as seeds, labor, fertilizers and insecticides also as a result of
the increase in petroleum products. Rice prices traditionally increase at the onset of the lean months period, from July to September, since this is the time when production is very low or almost zero.
It also assured that the NFA has sufficient stocks of rice to tide the markets over the lean-months period.
"Consumers will just have to go to NFA rice outlets in the markets and the rolling stores to avail of the good quality but low-priced NFA rice at P16 and P18 per kg," the statement said. There are two types of NFA rice are available in Bigasa ni Gloria sa Palengke outlets all over the country. Aside from rice, on the other hand, the NFA rolling stores also sell sugar, milk, noodles, sardines, coffee and cooking oil at prices lower than those prevailing in the market.
NFA also explained that even before July 1, it had already positioned its food security stocks in deficit and calamity-prone areas in preparation for the lean months. This is to ensure that rice will readily be available for residents in calamity-affected areas during the onset of typhoons and other natural calamities.