WE HAVE ENOUGH RICE FOR 3 MONTHS - NFA

MANILA
, May 29 , 2004
 (STAR)
By Rocel C. Felix  -  The National Food Authority (NFA) said improved production in the last dry cropping season bolstered the country’s rice stocks which could last for three months.

NFA administrator and concurrent Department of Agriculture officer-in-charge Arthur Yap said the current national rice inventory stands at 2.3 million metric tons (MT) of rice. This is good for at least 85 days based on the nationwide daily consumption of 27,000 metric tons (MT) of rice daily or 9.85 million MT annually.

Yap said that about 1.2 million MT of the national rice inventory are held by household consumers, 567,000 MT in the NFA and 524,500 MT in commercial traders.

He added that NFA already acquired 1.685 million 50-kilo bags of palay (paddy rice) through its 530 buying stations nationwide since January this year.

Out of the 567,100 MT held by the NFA, 69,626 MT are stocked in its warehouses in Bulacan; 67,004 MT in Metro Manila; and 28,588 MT in Cebu. The rest are in other provinces and cities.

The NFA chief pointed out that despite the increase in prices of rice in the international market, domestic prices are stable.

NFA data show that the average retail price of regular-milled rice (RMR) is P18.70 a kilo while that of well-milled rice (WMR) is P20.89 a kilo.


Reported by: Sol Jose Vanzi

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