MANILA — The National Food Authority (NFA) Council on Thursday said it has approved the higher buying price for palay.

In a press conference, Agriculture Spokesperson Asec. Arnel De Mesa said this is a measure to make NFA competitive with private traders.

"Inaprubahan ng council ang bagong buying price for dry and ating fresh palay," he said.

Under the new guidelines, NFA will buy in a range of prices, from as low as P23/kilo to as much as P30/kilo for dry palay.

Fresh palay will have a buying price of P17 to 23 pesos.

This is significantly higher than their P19 to 23 per kilo buying price for clean and dry palay prior to the approval.

"Sa price range, hindi ibig sabihin na highest range agad yung buying price. Imo-monitor natin ang buying price nationwide. It will be on a per province basis," said NFA OIC-Administrator Larry Lacson.

"We will issue a price bulletin for each province," Lacson said.

Lacson said the NFA will craft polished guidelines for everyone.

The approval came after NFA's report that it has been struggling to procure palay this harvest season due to lower prices compared to private counterparts.

Aside from the approval of higher buying prices, the NFA council also approved a program that will modernize their operations.

"Inaprubahan din ng Council ang NFA modernization program, yung P10 billion na pondo for post-harvest, modernization natin," De Mesa said.

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