NFA targets 50,000-MT rice disposals by June

THE National Food Authority (NFA) is planning to auction more than 50,000 metric tons (MT) of ageing rice stocks by June, the NFA said on Monday.

NFA Administrator Larry R. Lacson told reporters that the agency is currently revising its floor price guidelines for the upcoming June auction, delaying the original plan to hold the auction in May.

The NFA was originally planning to auction about 5,000 to 20,000 MT of rice in May, out of the 62,890 MT of rice stocks determined to be ageing and planned for disposal in 2026.

Mr. Lacson added that the floor price for rice stocks may increase by a few centavos in line with rising rice prices.

“Realistically, if the price cap (for imported rice) is at P50, while the suggested retail price for domestic rice stays at P53, then the appetite for the NFA auction will be lower,” Mr. Lacson said.

Mr. Lacson added that the NFA has only bought 25,000 MT of the 350,000-MT procurement target for the first half of 2026.

“They’re still low, but if you look at the performance month to month, between May and April, it shot up.”

The NFA continues to set the buying price at P28, even as farmgate prices for palay (unmilled rice) have declined in certain areas.

“In Region 3, prices for wet palay range from P16 to P17, equivalent to around P20-21 when dried,” he said.

The farmgate price of palay rose 29.2% to an average of P23.31 per kilogram in April, according to the Philippine Statistics Authority.

Additionally, the NFA has released 54,000 MT for the government’s P20-per-kilo subsidized rice program, with demand for the program to be sustained in the face of rising rice prices. — Pierce Oel A. Montalvo