The National Food Authority (NFA) Council led by President Ferdinand R. Marcos Jr. has set the buying prices for dry and wet palay at P16 to P19 per kilo, and P19 to P23 per kilo, respectively.

“Nagtawag ako ng meeting ng NFA Council para tingnan ang paanong puwedeng gawin para ang presyo ng pambili ng NFA sa palay, ‘yung wet at saka ‘yung dry, ay kailangan nating tingnan dahil nagbago na ang sitwasyon,” Marcos announced following the meeting of the NFA Council.

“At ganoon nga ang pinag-meeting-an namin at nag-decide kami na ngayon ang buying price ng NFA mula ngayon ay sa dry ay 19 to 23, ang wet ay magiging 16 to 19. Iyon ang naging desisyon ng mga NFA Council,” he added.

He expressed optimism that the new palay buying price range will enable local farmers to earn more in view of the unstable prices that rocked the rice industry in the recent weeks.

“So, mayroon na silang pagkikitaan. At bukod pa roon, nandiyan na ‘yung price cap para maikalma natin itong nangyayari sa rice prices,” he said.

If the buying price of the dry palay is pegged at P23 per kilo, the President said the maximum procurement fund needed by the NFA will be P15 million. On the other hand, the NFA will need at least P16 billion in procurement fund if the buying price of dry palay will be pegged at P25 per kilo.

For its part, the Department of Agriculture (DA) said it would support the NFA proposal but at a level of PhP23 a kilo. The agency added that at P22 or P23, farmers are satisfied with it since they are now being paid P16-P19. DA noted that P25 is just too high.

Asked by the President on the influence of NFA’s buying price as well as the public reaction, National Economic and Development Authority (NEDA) chief Secretary Arsenio Balisacan said that at the farm gate level, NFA procurement will be concentrated in areas where there is excess supply relative to local demand.

“In that case it can help elevate farm gate price,” Balisacan said.