Amid farmers’ woes, NFA hikes palay prices, lowers rice retail costs

MANILA, Philippines -- The National Food Authority (NFA) Council has approved lowering the prices of NFA rice to P27 per kilogram by flooding the market with at least 3.6 million bags of rice, according to the Department of Agriculture (DA). Agriculture Secretary William Dar said in a statement on Thursday, Sept. 12, that the move, which would earn P4.86 billion for NFA --- allows the agency to buy palay from local farmers at a higher price, from just P17 to P19 per kilo of clean and dry palay. Dar, who chairs the NFA Council, said he also ordered NFA Administrator Judy Carlo Dansal to dispose of the stocks on or before October 10. "The 2-peso increase in palay price support can...

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