NFA injects 2.1 M bags of rice into the market

The National Food Authority has started injecting the target 2.1 million bags of rice into the market to stabilize the supply in Central Visayas until the end of the year.

The 2.1 million bags form part of the 28 million bags of rice that NFA is set to distribute nationwide to make sure the country’s supply is stable to prevent price escalation.

NFA administrator Jessup Navarro said the increased market injection daily has prevented abrupt increase in the price of rice even after Typhoon Frank hit the country.

NFA-7 information officer Edgar Diez confirmed that the agency has been receiving more supply from its central office.

He said stocks for Central Visayas have already reached 2.9 million bags, more than enough to sustain the supply in the market throughout the region until December.

Diez said they increased the normal 10 percent injection to 30 to 35 percent in mid-June in preparation for the lean months that started in July.

However, Diez said the injection would be back to 10 percent in October when the harvest season begins.

The NFA central office also sets to reduce in September the volume of rice that will be distributed all over the country.

From the 6.5 million bags of rice for the months of July and August, the supply will be reduced to five million by September.

A maintained three million bags per month will be distributed nationwide until the season peaks in December.

Meanwhile, NFA has allotted P8.5 billion for procurement of rice beginning October when the main harvest sets in.

Diez said Central Visayas will only have to procure 2,000 bags to help local farmers earn more as the NFA has increased the incentive from P11.50 to P17 per kilo last year.

In NFA’s website, Navarro said they increased the incentive to encourage farmers to sell their produce to NFA.

Navarro added that farmers will receive an additional P1,800 if they sell at least 50 bags of rice each to NFA.   - Jessica Ann Pareja/LPM