The National Food Authority (NFA) Council, the governing body of the food security agency, on Monday approved an increase in the wholesale price of NFA rice from P23.50 to P25 per kilogram (kg) effective Tuesday, Dec. 7, 2010.
On the retail level, this will effectively increase the price from P 25/kg to P 27/kg.
NFA said the move was among the measures the government undertook to ensure the viability of the agency and continue fulfilling its mandate of supporting farmers to produce enough for self-sufficiency.
NFA Administrator Angelito T. Banayo said: “We are looking at the long term viability of NFA. The minimal price increase will go a long way in ensuring continuous support for our farmers while stabilizing rice prices and supply availability.”