The National Food Authority (NFA) requests a P16.3 billion fund to purchase rice and improve storage capacity.
According to the NFA, the planned budget for 2025 for the Department of Agriculture (DA) is P24.85 billion, a 77% increase from P14.03 billion this year.
This year’s NFA budget includes P9 billion for rice purchases, with a maximum procurement price of P23 per kilo.
According to NFA Acting Administrator Larry Lacson, in addition to the fund for rice purchase from local farmers, the agency needs to establish more storage and drying facilities to improve buffer stocking capacity.
The NFA now has a drying capacity of 31,000 metric tonnes but purchases 495,000 metric tonnes of rice.
According to the law, the NFA must maintain a buffer stock equivalent to nine days of national rice consumption.
