|
|
|
| |
| | | | [Other News] |
| | NFA ASSURES AMPLE RICE SUPPLY NATIONWIDE (January 20, 2010) |
The National Food Authority assures it has sufficient
inventory of rice and the agency is ready and has the
capability to meet any increase in demand for NFA
rice as commercial rice prices have slightly
increased.
Commercial rice prices traditionally increase during off
harvest seasons and traders peg the staple’s price based
on their palay buying price. The rule of thumb in rice
trading is to double the price of palay when sold as
rice. For example, if traders bought palay at
P17 per kilogram, they would sell rice at P34 per kg.
However, NFA administrator Jessup P. Navarro said the
agency’s is prepared to cushion the market against any
increase in commercial rice prices because the agency’s
inventory of rice today stands at about 20 million bags
which is sufficient for some 28 days food security
requirements at a daily consumption rate of 726,000
bags. “This inventory level is almost double the
mandatory 15 days food security buffer stock”, he said.
The first batch of the 250,000 metric tons of rice imported
as early as November last year is also expected to arrive
within the month which will even increase the NFA’s rice
inventory said Navarro.
“The coming palagad or summer harvest that usually starts
in February will further boost the food security stocks we
have in our warehouses,” Navarro noted.
He also cited it has always been the policy of the agency
to maintain a high yearend inventory of rice and to position
stocks strategically to give consumers ready access to rice
supply and protect them from any unwarranted increase in the
price of the staple.
Having sufficient supply on a per province basis also makes
it easier for the NFA to increase the volume of its rice
distribution whenever demand goes up or when infusion of
rice from the private sector slows down.
Navarro said this was the reason why the NFA was able to
immediately comply with the directive of Agriculture
Secretary Arthur C. Yap to increase by 35 to 40 percent the
volume of rice being distributed in Metro Manila in
the aftermath of typhoon Ondoy.
“It is important for us to maintain sufficient rice
supply nationwide,” said Navarro. “The NFA will tap the
more than 24,000 active market outlets in intensifying rice
distribution,” he added.
Navarro said the proactive rice importation made for 2010
coupled with the intensive palay procurement in 2009 despite
the typhoons is expected to put the agency in a better stock
position this year.
|
|
|
|
|
|
|
