Prince Warehouse to start selling NFA rice next week
Budget shoppers could soon have more access to the affordable NFA (National Food Authority) rice.
Starting next week, Cebu supermarket chain Prince Warehouse eyes to start selling the governmentsubsidized rice in some of its branches, particularly those in poor areas, after it has secured accreditation.
Company CEO Robert Go confirmed to The FREEMAN yesterday they are already processing payment to state-run Landbank for the supply of the cheap rice.
However, Go said his company would have to spend on its own for the supply deployment to its stores and for repacking of rice.
“We mainly want to help to sell cheap NFA rice to poorer Filipinos and have access to cheap rice,” the businessman said.
“I think after all the processes, it will be next week when we are ready to sell,” the retailer said.
Go cited that NFA rice will most likely be sold in Prince stores in far flung areas namely in Tuburan, Daanbantayan, Danao, Dalaguete, Argao, Sibonga, Minglanilla, North Reclamation Area and City Hall branches, all in Cebu.
The cheap rice will also be sold in its Siquijor branch and other Visayas areas including Naval, Isabel, Baybay, Abuyog and Maasin.
Go said each branch will initially have at least 10-20 sacks of NFA rice supply.
“Maybe 10-20 sacks for each branch at the start. We move on as soon as we start,” Go said.
The NFA has been urged to fast track the accreditation of retailers seeking to sell NFA.
There’s a move now to have more supermarkets to sell NFA rice, which is sold at P27 per kilo for regular milled rice and P32 per kilo for well milled rice.
In Cebu, Prince Warehouse, which is a member of Philippine Amalgamated Supermarkets Association Inc. (PAGASA), is the only supermarket chain that’s being tapped to sell the cheap government rice.
Recently, the NFA had signed a tripartite memorandum of agreement with DTI and PAGASA to make NFA rice available in various supermarkets nationwide.
PAGASA supermarkets serve the BCD market and include Liana’s Supermarket, Welcome Supermart, 680 Supermart, and Prince Warehouse, among others.
Real estate developers and brokers are encouraged to partner with Philippine Retirement Authority (PRA-Cebu) to tap the growing number of retirees looking for properties in Cebu.
According to PRA-Cebu officer-in-charge Elma Corbeta, foreign retirees led by Chinese nationals are good market potential especially for residential condominium units in Cebu, as their special resident retirees Visa (SRRV) deposit can be converted to property acquisition here.
A principal retiree applicant aged 35 years old to 49 years old may only need a visa deposit of $50,000 while for 50 years and above with pension is at $10,000 and without pension at $20,000 to secure an SSRV.
This deposit can be used to buy real estate products like condominium units, Corbeta said.
The US$ 50,000 under the current exchange rate of P55 per one US dollar, could fetch to P2.7 million.
Real estate, Corberta said is one of the basic needs among retirees.
As of August 2018, PRA records 57,590 SSRV holders, of whom 3,322 are living in Cebu.
Cebu now is also an attractive retirement destination among Chinese, Russians, aside from the traditional Korean, Japanese and Americans.
The Philippines was named 19th World Best Place to Retire in by International Living’s Annual Global Retirement Index in 2017.