NFA to import 250K metric tons of rice

THE National Food Authority will start the procurement process for the importation of 250,000 metric tons of rice to boost its stocks.

Jonas Soriano, Deputy Executive - net Secretary, said the procurement was agreed upon during the special NFA council meeting on Monday.

The meeting was attended by President Rodrigo Duterte, Executive Secretary Salvador Medialdea, Trade Secretary Ramon Lopez, National Economic and Development Authority Socio-Economic Planning Secretary Ernesto Pernia, Agriculture Secretary Emmanuel F. Piñol, Finance Undersecretary Bayani Agabin, Bangko Sentral - penilla, and Land Bank president Alex Buenaventura, among others.

“This is to allow the NFA to have enough buffer stock for the upcoming lean months of the year, in which rice harvest is at its lowest,” Soriano said, speaking in behalf of NFA council chairman and cabinet secretary Leoncio Evasco.

He added that the staple, to be purchased through government toprivate importation or open tender, will arrive in May.

The procurement and distribution operations will be administered by the Commission on Audit.

Soriano said the NFA council the purchase of domestic palay (rice) during the early days of the harvest months even if the government has to offer incentives so that farmer will sell their rice to the NFA.

“The main thrust is to buy lo - portation. We protect our farmers