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PIA Press Release
2007/10/19

NFA Dumaguete ups palay buying price

By Rachelle M. Nessia

Dumaguete City (19 October) -- The National Food Authority (NFA) in Dumaguete City has raised its palay buying price to P11 per kilo from P10.

The increase in palay buying price is in line with the Department of Agriculture's relentless efforts to promote the productivity and profitability of Filipino rice farmers.

According to NFA Information Officer Rolando Lazalita, individual farmers would continue to enjoy the incentives of 25 centavos per kilo of palay that me0 NFA's moisture content requirement of "clean and dry" or 14% and below, a 15 centavo/kilo drying fee and ten centavo/kilo delivery fee to NFA warehouses.

Farmer-cooperatives will get an additional 25 centavo/kilo incentive if they sell their produce to the government.

The incentives brought to P11.25 per kilo the NFA's buying price for palay from individual farmers and to P11.50 per kilo for those sold by farmer-cooperatives.

Lazalita said local NFA officials will soon meet with farmers cooperatives leaders here to inform them of the new buying price for palay.

The hike in the palay procurement price is expected to raise farmers' earnings and boost their enthusiasm to produce more, especially with the use of high-yielding hybrid seeds and better inputs, according to a statement from the NFA central office.

Pres. Gloria Macapagal-Arroyo approved the new 10 % increase in domestic buying price in response to the farmers' clamor for higher NFA buying prices of palay.

Sec. Arthur C. Yap of the Department of Agriculture (DA) said this new NFA palay procurement rate will act as a "price push" mechanism that will influence the buying rates of private traders. During the current palay main harvest, the average palay buying price of private traders has been monitored from P11.47 to P12.30/kg. (PIA) [top]

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