The national government announced Monday a new price range for palay buying by the National Food Administration (NFA)—P19 to 23/kilo for wet palay and P16 to 19/kilo for dry palay.
President Ferdinand R. Marcos Jr., who also heads the NFA Council, said this new price range for palay buying price is in response to the changing production and market conditions and is aimed at improving farmers’ incomes.
“Nagtawag ako ng meeting ng NFA Council para tingnan ang paanong puwedeng gawin para ang presyo ng pambili ng NFA sa palay … at nag-decide kami na ngayon ang buying price ng NFA sa dry ay 19 to 23, ang wet ay magiging 16 to 19. Iyon ang naging desisyon ng mga NFA Council,” Marcos said.
“So, mayroon na silang pagkikitaan. At bukod pa roon, nandiyan na ‘yung price cap para maikalma natin itong nangyayari sa rice prices,” Marcos added.
Marcos said the earlier proposed P20 and P25 buying price were too high and would spike retail prices. The NFA Council said that if new buying price of dry palay would be at P23, the procurement fund needed would be P15 billion at the maximum.