NFA Aug. palay procurement tops 3,209 MT
THE National Food Authority (NFA) said on Wednesday that it procured 3,209.9 metric tons (MT) of palay, or unmilled rice, in August, equivalent to 64,199 sacks of 50 kilograms each.
In its monthly report, the NFA said the procurement represents an accomplishment rate of 16.64%, against a target of 19,285 MT or 385,700 sacks for August.
On the other hand, August palay procurement exceeded the year-earlier total of 285.25 MT or about 5,705 sacks.
“This significant shortfall in procurement can be attributed to the onset of the lean months,” it added.
The lean season for rice is July to September, when harvest activity slows down.
The NFA buys palay for between P23 and P25 per kilogram for dry and clean grain.
The NFA is targeting a palay inventory of 435,000 MT before the end of the year. It is required to maintain a rice reserve equivalent to about nine days’ demand.
As of Aug. 31, the NFA’s inventory of milled rice was 151,210 MT or 3,024,206 sacks.
“It should be noted that NFA’s inventory is only part of the national rice inventory” and excludes reserves held elsewhere, the NFA said.
The NFA said it distributed 24,267 bags (1,213.35 MT) of milled rice to various government agencies and local government units. This was well below its 547,200 bags (27,360 MT) target for the month. — Adrian H. Halili
