NFA rice to be sold at lower price, begins coordinating with LGUs for immediate allocation of stocks

PTVPhilippines

NFA rice to be sold at lower price, begins coordinating with LGUs for immediate allocation of stocks  For more news, visit:  ►https://www.ptvnews.ph/  Subscribe to our DailyMotion Channel: ►http://www.dailymotion.com/peoples-television-incorporated  Subscribe to our YouTube channel: ►http://www.youtube.com/ptvphilippines  Like our Facebook pages: ►PTV: http://facebook.com/PTVph  ►Rise and Shine Pilipinas: https://www.facebook.com/riseandshinepilipinas  Follow us on Twitter:  ►http://twitter.com/PTVph  Follow us on Instagram: ►https://www.instagram.com/ptvph  Watch our livestream on:  ►http://ptvnews.ph/livestream/ ►https://www.dailymotion.com/PTVPhilippines  Watch our News Programs, every Mondays to Fridays  Rise and Shine Pilipinas - 6:00 - 7:00 am | 7:30 - 8:00 am Balitang Pambansa - 7:00 - 7:30 am | 12:00 - 12:30 pm | 6:00 - 6:30pm | 9:30 - 10:00 pm PTV Sports - 8:00 - 9:00 am Bagong Pilipinas Ngayon - 12:30 - 1:00 pm Sentro Balita - 1:00 pm - 2:00 pm Ulat Bayan - 6:30 pm - 7:00 pm PTV News Tonight -  10:00 pm - 10:30 pm  Saturday & Sunday: ►Sentro Balita Weekend - 1:30 - 2:00 pm ►Ulat Bayan Weekend - 6:15 pm - 7:00 pm

Transcript

00:00To clear stocks in storage and make way for new ones from this season's harvest, the

00:05National Food Authority is on a clearance sale for its grains at 35 pesos per kilo beginning

00:11today.

00:12The NFA's move to sell their grains at a loss coincides with today's declaration of

00:17a state of food security emergency to hopefully bring the prices of rice at public markets

00:22down by flooding them with dirt-cheap NFA grains.

00:26Our Christian Bascones tells us more.

00:31After the declaration of food security emergency on rice by the Department of Agriculture,

00:36NFA rice is set to be sold to the public at a lower price compared to the recommended

00:40price of the National Price Coordinating Council.

00:44This declaration aims to influence market prices to go down.

00:47The National Food Authority started coordinating with the participating local government units

00:51across the country for the immediate allocation of stocks.

00:54As of now, the NFA has already sent a communication to the LGUs, we sent a letter inviting them

01:03to participate.

01:04So far in NCR, including Cavite, because in NFA Cavite is included in NCR, we sent 53

01:13letters and we are waiting for the reply of the LGUs so we can ascertain who are the

01:22interested to participate.

01:24There will be 150,000 metric tons of rice to be allocated to each LGU.

01:29The NFA will sell the rice at a price of 33 pesos per kilo and LGUs are allowed to resell

01:34it at a maximum price of 35 pesos per kilo.

01:37The NFA is looking forward to its implementation next week.

01:40Agricultural Secretary Engineer Arnel de Mesa made it clear with the press that this emergency

01:45declaration does not mean that there is a shortage of rice supplies in the country but

01:50it is the resolution of a terrible rice price hike in the market.

01:53This food security emergency is only due to the extraordinary increase in the price

02:02of rice and not because of the lack of rice supply in the country that is being imposed

02:09by the Republic Act 12078 or the amendment to the rice tariffication law.

02:13The NFA explained why the price was slower than the recommended price from the NPCC.

02:19According to them, this will accelerate the sale of the allocated grains so that NFA will

02:24have enough storage space in preparation of the coming harvest season.

02:28Meanwhile, the DA announced the maximum suggested rate of price for imported rice will be reduced

02:33from 58 pesos to 55 pesos per kilo.

02:36A further reduction in the MSRP is expected in the coming weeks and perhaps even below

02:4150 pesos per kilo by early March as projected by Agricultural Secretary Francisco T. Laurel,

02:47Jr.

02:48This is Christian Moscones for a new and better Philippines.

Category

Transcript

Recommended