The National Food Authority Council approved Tuesday the amended implementing rules and regulations on rice importation that include suggestions and recommendations of farmers and rice industry stakeholders.
The improvements in the draft IRR include the concept of ‘rolling buffer stocking’ where the NFA, whose main task was reduced to buffer stocking, will buy local farmers’ produce all-year round to maintain 30-day buffer stocks.
The system will allow the NFA to roll over its procurement funds and continuously buy local rice, thus protecting the farmers from a feared drop in the buying price.
Another improvement is the continuation of the vending functions of the NFA to support the buffer stocking concept as it would have to clear its warehouses of old stocks to prevent spoilage.
Under ordinary circumstances, milled rice could only be kept for a maximum of six months.
