Agriculture Secretary Francisco Tiu Laurel Jr. on Thursday assured continued procurement of palay (unhusked rice) from local farmers after the National Food Authority (NFA) secured a PHP9 billion budget for the wet harvest season.

“The NFA will have enough funds to support rice farmers through the wet season, which is critical for their livelihoods during this challenging period,” Tiu Laurel said in a statement.

NFA Administrator Lary Lacson said the release of the additional funds would help them procure a higher volume for the country’s national rice buffer stock, while supporting more farmers with the adjusted palay buying price range.

“This volume aligns well with the NFA’s wet season palay procurement target of 6.4 million to 8.7 million bags,” he said.

With the PHP9 billion fund, the NFA can procure about 7.2 million 50-kg. bags of palay at PHP25 per kg.

“Even at this adjusted price, farmers will continue to benefit from their hard work, especially given the improved price range we implemented earlier this year,” Tiu Laurel said.

During the dry harvest season, the NFA implemented the buying price per kg. range of PHP17 to PHP23 for fresh or wet palay; and PHP23 to PHP30 for clean and dry palay.

Lacson, meanwhile, noted that measures to use farmers’ sacks in the procured palay, alongside the recent increase in the NFA’s rice selling price to the Department of Social Welfare and Development (DSWD) to PHP38 per kg., would help NFA gain more funds.

“These measures could save hundreds of millions of pesos, enabling us to purchase more grains from rice farmers,” he said.

Lacson earlier said the agency is looking to save at least PHP27 million for the wet harvest season, and about PHP215 million for 2025 if they no longer rebag the clean and dry palay bought from local farmers. (PNA)