In preparation for the country’s palay (unhusked rice) harvest season, the National Food Authority (NFA) will be releasing its aging rice stocks, according to the Department of Agriculture (DA).

“Kaya nagpapa-bid out tayo ngayon sa NFA ng bigas dahil it’s aging nga (That’s why we are now bidding out the NFA rice because it’s aging),” DA Secretary Francisco Tiu Laurel Jr. said in an ambush interview on the sidelines of the induction of the new officers of the Economic Journalists Association (EJAP) Monday night.

“Harvest season is coming, so we need to buy again from the new harvest at the right price.”

Releasing aging rice stocks will help free up spaces in warehouses nationwide, in time for palay procurement beginning in March or April.

For milled rice inventory, NFA Administrator Larry Lacson said the agency has 2,741,408 bags or 137,070 metric tons (MT), of which about 700,000 bags are for auction.

“So, mayroon tayong (we have) 2 million for disposal – for calamities, P20 (program), emergencies,” he said in a separate interview.

Earlier, the NFA posted an invitation to bid for more than 737,000 bags of aging rice worth more than PHP900 million.

Interested bidders may send their bids to the agency until Feb. 20.

Meanwhile, Tiu Laurel assured the NFA has a “healthy supply” of rice buffer stock.

As of Jan. 31, the NFA has about 9.17 million bags or 458,541 MT of palay inventory – equivalent to 5.78 million bags of milled rice – good for 11 days based on the country’s daily consumption requirement. (PNA)