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Monday, February 17, 2025

Cheaper NFA rice available at P35/k

DA also lowers imported rice max SRP: P55/k

Filipinos will be able to buy even cheaper NFA rice at P35 per kilogram under the food emergency declaration that took effect Monday.

The National Food Authority, however, stands to lose as much as P2.25 billion with the move.

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NFA operations manager Roy Hontiveros said the agency would sell at least 150,000 metric tons of rice to local government units at below the procurement cost.

“Based on our actual buying price in 2024, the estimated loss is between P12 to P15 per kilo,” Hontiveros said.

The NFA rice will be sold to LGUs at P33 per kilogram, and will in turn be sold to the public at a suggested price of P35 per kilogram — one peso less than the original estimate of P36 per kilogram.

So far, the NFA has sent 53 letters to various LGUs, including those in Metro Manila and Cavite, to gauge interest in purchasing the rice.

However, only Navotas has confirmed its intent to buy, with other LGUs yet to respond. 

The NFA said the rice will be made available on a pick-up basis.

The DA also reduced further maximum suggested retail price (MSRP) for imported rice. 

Effective February 5, the MSRP for imported rice will be lowered to P55 per kilogram, down from the previous P58 per kilogram.

“We aim to reduce the MSRP further, with a target of P52 per kilogram by mid-February and P49 per kilogram in two weeks,” said Agriculture assistant secretary Arnel de Mesa.

Agriculture Secretary Francisco Tiu Laurel Jr. on Monday declared a food security emergency on rice, citing persistently high prices despite efforts to reduce production costs and lower tariffs on imported rice.

Data from the Department of Agriculture showed that rice prices in Metro Manila markets ranged from P41.24 to P59.14 per kilo as of February 1, while Kadiwa outlets were selling rice at P38 per kilo.

President Ferdinand Marcos Jr.’s Executive Order 62 earlier lowered rice tariffs from 35 percent to 15 percent until 2028 to help reduce prices of the staple grain.

Along with price reductions, the DA said it will continue to closely monitor the rice supply and market conditions.

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