Rice farmers in the Visayas and Mindanao started harvesting a month ahead of the harvest season, prompting the National Food Authority (NFA) intensify its palay buying program also earlier than usual.
"This early harvest is expected to boost the country's rice stocks," said NFA Administrator Orlan Calayag, who ordered regional managers to boost palay procurement "capture a sizeable portion" of the harvest for buffer stocking.
As of Aug. 13, the national rice stock inventory reached 604, 762 metric tons.
Harvest in Central Luzon, Southern Tagalog, Ilocos, and Cagayan Valley will commence as early as September to November.
Prices of milled and unmilled rice increased around the second week of August, largely because of Storm Labuyo and the monsoon rains after the storm. Farmgate palay from August 14 to 20 fetched
P18.09 per kilo, up 0.39 percent from a week earlier and by 5.42 percent from a year earlier, according to the Bureau of Agricultural statistics.
Well-milled rice fetched P36.09 per kg, up 1.55 percent from week earlier and by 8.57 percent from a
Rice on retail sold for P37.78 per kg, up by 0.94 percent from a week earlier and by 5.68 percent from a year earlier. — VS,GMA News