The National Food Authority (NFA) was commended by the Commission on Audit (COA) for achieving “near-optimal” national rice buffer stock, the Department of Agriculture (DA) said on Friday.

Unlike the previous years, the COA gave the NFA a “rare commendation” in its latest Audit Observation Memorandum (AOM) due to the agency’s “effective” rice inventory management.

This after the NFA hit the mandated 300,000 metric tons (MT) national rice stock through the implementation of the Price Range Scheme (PRICERS), which the COA described as “innovative reforms.”

The scheme allowed local farmers to sell their produce to the NFA at PHP23 per kg. to PHP30 per kg. for clean and dry palay; and PHP17 per kg. to PHP23 per kg. for fresh and wet palay.

Overall, the NFA hit 90 percent of the 495,000 MT procurement target in 2024.

“We commend the management in maintaining the required buffer stock to an almost optimal level of rice inventory that significantly mitigated the risk of not meeting the country’s food security in cases of calamity and emergencies,” the COA’s AOM read.

NFA Administrator Larry Lacson, meanwhile, vowed to continue advancing these strategies to further support local farmers in line with the directives of President Ferdinand R. Marcos Jr.

“We aim to sustain our aggressive palay procurement, especially in areas where palay prices are low, and will soon complete repairs of 134 warehouses, which will allow us to buy even more palay at fair prices,” he said.

DA Secretary Francisco Tiu Laurel Jr., likewise, thanked the COA for its remarks.

“We are pleased and thankful for this rare commendation from COA. It’s a strong vote of confidence in our efforts to ensure farmers earn fair returns for their hard work as well as ensuring sufficient rice supply,” he said. (PNA)