DA Secretary Proposed Granting NFA Powers to Stabilize Rice Prices
The Agriculture Secretary, Francisco P. Tiu Laurel Jr., is urging lawmakers to give the National Food Authority (NFA) the power to step in and help stabilize rice prices. In a recent meeting with the House of Representatives, Secretary Tiu Laurel highlighted the importance of allowing the NFA to sell rice directly to the public, which could assist in controlling prices and protecting consumers.
Since the Rice Tariffication Law was enacted in 2019, the NFA has had limited authority, especially in terms of importing and selling rice to the public. The Department of Agriculture has been pushing for changes to this law to restore the NFA’s ability to intervene in the market, but these changes have not yet been approved.
Secretary Tiu Laurel emphasized the need to empower the NFA, stating that it could help bring down prices significantly with nearly 6 million bags of rice ready to be sold. By giving the NFA more control over rice prices, it could prevent certain groups from taking advantage and manipulating the cost of rice, ultimately protecting consumers.
In the past, the NFA had the power to license rice traders and inspect warehouses to keep track of rice supply. The discussion in the meeting included a call for the National Bureau of Investigation to look into the rice supply chain and determine if there is any market manipulation happening, similar to what occurred with onion prices in the past.
Secretary Tiu Laurel also acknowledged President Ferdinand Marcos Jr.’s decision to reduce the rice tariff, which has helped keep prices stable. Without this reduction, rice prices could have been even higher due to currency depreciation and rising costs of locally sourced palay.
It’s crucial to restore the NFA’s powers to create a more efficient and fair rice market, ensuring affordable prices for Filipino consumers. The aim is to address the existing inefficiencies in the rice market to benefit everyone involved.
