NFA intensifies palay, corn buying

The National Food Authority (NFA) revealed it would intensify the buying of rice (palay) and corn in a bid to stabilize farm-gate prices.

The move will also assure local producers of a ready market at reasonable prices, the NFA said in a statement to the media on Monday.

Based on its latest actual price monitoring, the price of palay is still above the government support price of P17 per kilogram.

Buyers continue to buy palay at P18.35 per kilogram; white corn at P11.94 per kilogram; and yellow corn at P11.06 per kilogram.

The agency said it is buying yellow corn at P12.30 per kilogram and white corn at P13.00 per kilogram.

NFA also provides drying, delivery and cooperative incentives in the amount of P0.70 per kilogram.

“Because the country produces corn mainly for feed processors, the NFA has devised a scheme that will directly link the corn producers with buyers through our Enhanced Electronic Trading System,” said NFA officer-in-charge Tomas R. Escarez in the statement.

He added that the recent move of the agency will ensure that stocks of palay and corn will go directly from the farms to processors eliminating another layer of middleman between them.

“Reports saying that the average farm-gate price of palay is at P17.11 per kilogram means the farmers are still enjoying a good price for their harvest,” he added.

He also emphasized that the P17 per kilogram government support price had been pegged to ensure that farmers get reasonable returns on their investment.

The statement added that NFA had already procured a total of 1,616,658 bags of palay and 12,409 bags of corn since the start of the harvest season this month.