Not the poor
Briones’ presentation also showed of NFA rice were not even poor.
“The buffer stocking and price stabilization interventions of the NFA have done little in improving food security and have resulted in government,” Briones said in his presentation on Friday.
Briones presented two options for the NFA: one is to allow the status quo and maintain its importation monopoly, and the second, restrict the agency to buffer stocking.
Sen. Cynthia Villar said the Sen- ate agriculture committee, which she leads, was looking at the removal of the rice import function and regulation of the NFA and allow the private sector to take over.
want to look at the reforms,” Villar told reporters.
The committee is also looking at the model of the sugar industry, which keeps 15 percent of production as buffer stock that the government can buy if needed.
“We will look into the practice of the Sugar Regulatory Authority (SRA) where farmers are under agreement with SRA to sell stocks when the need arises,” she added.