NFA Council sets new buying price for palay
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00:00 In a bid to alleviate the strain on consumers and farmers amidst the skyrocketing prices of rice in the market,
00:07 President Ferdinand R. Marquez Jr. took the lead in convening a meeting with the National Food Authority Council
00:14 to deliberate on potential measures to address the pressing issue at hand.
00:18 Alan Francisco tells us more in this report.
00:24 I called for a meeting of the NFA Council to see what can be done
00:32 to address the price of NFA rice, wet and dry rice, because the situation has changed.
00:44 After the meeting of the National Food Authority Council,
00:47 presided by Chairman President Ferdinand R. Marquez Jr., a new price of rice has been set.
00:53 The Council agreed on each kilo of dry rice from P19 to P23 and P16 to P19 for wet rice depending on the quality.
01:02 We can provide a better quality of life to our farmers.
01:10 The production cost of farmers now is P14 to P15.
01:18 They have a good income and the price cap is there to help us calm the situation of rice prices.
01:29 According to President Marquez, in addition to increasing farmers' income,
01:33 it will stabilize the price, calm down fears and worries, and ensure an adequate supply in the market.
01:39 Meanwhile, the NFA promised to remove imported rice from the market and supply it directly to poor families
01:45 so it won't affect the price of local rice.
01:48 It has also learned to give rice instead of cash in distributing aid to the poor.
01:53 Due to the new Palay price, the NFA will need P15 to P16 for Palay procurement.
01:59 Alan Francisco, for the Nation.