NFA Bukidnon Buys Palay at P20.70 Per Kilo

The National Food Authority (NFA) in Bukidnon announced that they are now buying palay (unhusked rice) at P20.70 per kilo.

This is higher than the grain traders’ prevailing buying price of P20 per kilo.

NFA provincial manager Beverly Navarro said NFA’s increased buying price of Palay started October 12, 2018, when NFA Council, chaired by Agriculture Secretary Emmanuel F. Pinol, approved the additional incentive of P3.00 per kilo.

“Earlier, NFA buys Palay under the subsidized scheme at P17.00 per kilo and gives additional P0.20 per kilo for transport and another P0.20 per kilo for drying. These are given as incentives for individual farmers and cooperative members. Another P0.30 per kilo is also granted to members of farmer groups as cooperative development incentive fee (CDIF) for post harvest facility build-up of their organization, which summed up to P17.70 only,” she said.

But now, our farmers have all the reasons to be glad because the newly-approved P3.00 additional incentive called ‘Buffer Stocking Incentive (BSI)’ will force Palay traders to adjust their buying prices to compete with the rising Palay deliveries in NFA buying stations, she added. (MSSM, NFA/RLRB, PIA 10-Bukidnon)