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THE National Food Authority (NFA) recorded a higher rice inventory in May following its decision to raise palay (unmilled rice) buying prices.

THE National Food Authority recorded a higher rice inventory in May following its decision to raise palay buying prices.Since the approval of the higher buying price, the NFA has purchased 2.41 million 50-kilo bags as of May 15. This is higher than the 142,244 bags between January 1 and April 15.'I think the NFA Council's strong understanding of NFA 's challenges has resulted in stronger collaboration. We thank Secretary Francisco Tiu Laurel, Jr.

This represents 82.76 percent of the 3.08-million target for the period.'We're still aiming to hit that target since there are other areas like Bulacan where farmers haven't completed their rice harvest,' said Lacson. He added that farmers are also happy with the initiative.As of May 15, the NFA said that its volume of milled rice has reached a total of 111,720 metric tons , up 14.6 percent from the same period last year.

Source : headtopics