Tarrification law boosts Normin rice buffer stock

April 26, 2019


THE new Tarrification Law has boosted the rice of buffer stocks in Northern Mindanao ensuring sufficient supply for the rest of the year.

    In a press release, National Food Authority (NFA) 10 director Genaro Nuñez Jr. said the new law hastened the local procurement activities in rice producing areas in the region such as Bukidnon.
    Nuñez said this was done with the help coming from the Department of Agriculture (DA) which provided two hauling trucks for procurement activities in remote areas in Malaybalay City.
    Under the new rice tarrification law, NFA’s activities will be limited in sourcing its rice buffer stock through local palay procurement sans imports.
    Nuñez has set the maximum buying price of P20.40 (individual farmer) and P20.70 (farmers’ cooperative) per kilo, positioning its own mechanical dryers, hauling trucks and warehouses to accommodate a massive palay volume that will be procured in the different provinces in the region.
    The amount is on top of other incentives such as P0.20 per kilogram (drying), P0.20 per kilogram (delivery) and P0.30 per kilogram (cooperative incentive fee).
    As of April 15, performance of this year’s procurement in the region garnered a total of 20,585 bags of palay with Bukidnon being the highest procuring province at the volume of 12,459; Lanao del Norte (4,613), Misamis Occidental (3,420) and Misamis Oriental (93).
    That’s an add on to the 20,611 bags inventoried in December 31 last year, bringing the total to 39,681 bags.
    Republic Act 11203, otherwise known as the rice tarrification law, has left NFA with the lone function of ensuring the country’s buffer stocks for emergencies and calamities.



Subscribe Now!

Receive email updates from Business Week.