THE National Food Authority (NFA) reported having its highest rice buffer stock in 2024 and decreasing its deficit, despite stiff competition from private traders buying palay (unmilled rice) and the suspension of 139 officials and employees following an Ombudsman probe.
The NFA Council, chaired by Agriculture Secretary Francisco Tiu Laurel Jr., appointed Larry Lacson as NFA administrator and increased palay procurement price from P16 to P23 per kilogram (kg) and P17 to P30/kg. This encouraged rice farmers to sell their produce to the agency, leading to a spike in buffer stocks.
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