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NFA Increases Selling Price Of Rice To Government Agencies - Here's What It Means For Farmers And The Agency's Revenue
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The National Food Authority (NFA) has given the green light to increase the selling price of rice to the Department of Social Welfare and Development (DSWD) and other government agencies from ₱25 per kilo to ₱38 per kilo. This move is expected to boost NFA’s revenue by over ₱557 million.
Agriculture Secretary Francisco Tiu Laurel Jr. shared that this price adjustment will help the NFA reduce its losses and provide additional funds to buy more palay (unmilled rice) from local farmers. With this extra revenue, the NFA estimates that it can purchase around 400,000 50-kilo bags of palay, equivalent to about 12,600 metric tons of additional rice supply.
In simpler terms, this means more support for our hardworking farmers and a more stable rice supply in the country. Let’s see how this decision helps in ensuring food security and strengthening the agricultural sector in the coming months.
Agriculture Secretary Francisco Tiu Laurel Jr. shared that this price adjustment will help the NFA reduce its losses and provide additional funds to buy more palay (unmilled rice) from local farmers. With this extra revenue, the NFA estimates that it can purchase around 400,000 50-kilo bags of palay, equivalent to about 12,600 metric tons of additional rice supply.
In simpler terms, this means more support for our hardworking farmers and a more stable rice supply in the country. Let’s see how this decision helps in ensuring food security and strengthening the agricultural sector in the coming months.
Oct 2, 2024
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