Government agencies now have to pay P38 per kilo of NFA rice to help the agency generate more income. — INQUIRER FILE PHOTO
MANILA, Philippines – The Department of Social Work and Development (DSWD) and other government agencies will now be paying P38 per kilo of the National Food Authority’s (NFA) rice from P25.
In a statement, the NFA said it approved the price hike last month, which also applies to local government units and other government agencies providing relief.
NFA Administrator Larry Lacson assured the public that the increase would not affect the market price for rice.
The grains bureau added that the rice price hike for government agencies would generate an additional P557.3 million in revenue, which the NFA can use to buy more palay to boost its rice buffer and farmers’ income.
READ: NFA to keep building up rice buffer stock
“At a buying price of P28 a kilo of palay, the additional revenue from our sales to DSWD will allow us to buy an additional 400,000 50-kilo bags of palay. That’s easily 12,600 metric tons of incremental rice supply,” Lacson said.