NFA aims to purchase up to 500,000 tons of wet-season rice, but expects shortfall
The National Food Authority intends to acquire up to 500,000 metric tons of wet-season palay, but officials say the agency will fall short of its full-year procurement goal.
In a Friday press briefing, NFA Administrator Larry Lacson said the agency is prepared to buy as much as 500,000 metric tons of unmilled rice during the wet harvest season, which is being affected by El Niño. The purchase is meant to strengthen the government's rice reserves. Despite this ambition, Lacson warned that the total amount will not meet the NFA's annual procurement target.
Why it matters
Rice is a staple food, so the NFA's procurement shortfall could affect national food security and market prices.
In this story
Larry Lacsonpalaywet-season harvest500,000 metric tonsEl Niñorice inventoryprocurement shortfall
