National Food Authority in Philippine pegs deficit in govt rice stocks at 490,800 MT.

National Food Authority has appealed to the NFA Council to allow the importation of rice, as the deficit in its buffer stock stands at 9.8 million bags, equivalent to 490,800 metric tons (MT). NFA to maintain a buffer rice stock good to last for 15 days at any given time and for 30 days at the onset of the calamity-prone lean months, based on the daily consumption requirement of 32,150 MT. NFA needs an additional 490,800 MT of rice to meet the mandated volumes for food security. This additional stock to come from local produce, cannot compete with the private traders who are offering prices much higher than the government’s P17-per-kilogram support price.