MANILA—The National Food Authority (NFA) is “aggressive” in the pricing of rice, so farmers would prefer selling to them over traders amid the threat of the “super” El Niño.
Citing the Department of Agriculture, NFA Administrator Larry Lacson said the “super” El Niño is expected to reduce the production of rice by 700,000 metric tons.
“Sa ngayon, medyo aggressive tayo sa pricing para sa gayon ang ating mga magsasaka ay pumunta sa atin,” Lacson told state television PTV’s Bagong Pilipinas Ngayon on Thursday.
“Mas mataas tayo ngayon sa presyo ng mga traders, roughly between P4 to P5 para sa gayon ay makapamili tayo, maka-replenish ng stocks para mapanatili ‘yung buffer stock,” he added.
Lacson said the NFA has sufficient stocks to cover the possible decline in local production.
The national rice buffer stock is currently good for 75 days. Lacson said the country is in a “very good position” as to the buffer stock.
Weather bureau PAGASA has said that it expects El Niño to intensify in the coming months and reach peak intensity in the first quarter of next year.
The weather phenomenon is expected to result in reduced rainfall in large parts of the country, with some areas experiencing outright drought.