THE National Food Authority (NFA) said it will augment its storage capacity for rice by 200,000 metric tons (MT) within two years to enable more grain purchases from farmers.
Average retail prices of rice at the national level decreased in early May while prices of meat increased amid the Department of Agriculture’s (DA) interventions to stabilize retail prices, according to the Philippine Statistics Authority (PSA).
Chairman of BUA Group, Abdul Samad Rabiu, has pledged to further crash the prices of rice and other food items, which he said have already decreased over the past year.
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