Agriculture Secretary William Dar. INQUIRER file photo / GRIG C. MONTEGRANDE
MANILA, Philippines — Agriculture Secretary William Dar believes there is a need to raise up to 90 days the country’s 30-day buffer stock of rice.
“I am of the belief that the 30-day buffer stock of NFA [National Food Authority] is not enough. We have to increase the buffer stock from 30 days to 90 days,” Dar said during the hearing of the Senate committee on agriculture on Wednesday.
He said they would provide traders, cooperatives, local government units ,and other stakeholders a new inventory financing program from LandBank at 2 percent interest provided they would directly buy from farmers at P17 per kilo of palay.
“In this way, we’re hitting three birds with one stroke,” Dar said. “We keep the price of palay at P17 per kilo, we solve the problem of food security related to rice and we address the concerns of over rice speculation.”
“If we have a bigger buffer stock, we’re establishing the supply of rice and we’re preventing speculative activities,” he further said.
Dar also assured the Senate that his department is complying with the Rice Tariffication Law, which is the subject of the hearing.
“Let me reiterate, I’m on my 23rd day as your public servant in agriculture, I’m still trying to feel my way. But rest assure that I have the men and women in the Department of Agriculture, with me the people currently implementing the law,” he said.
‘My marching order to them: Just do it but tell me the truth,” the Secretary added. /jpv
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