00:00The National Food Authority expects the agency to earn more than P557 million from the sale of rice.
00:09This is after the NFA Council approved the higher selling price of the NFA in the Department of Social Welfare and Development
00:18and other agencies of the government.
00:21From P25 per kilo, it was increased to P38 per kilo.
00:27According to Agriculture Secretary Francisco Chu Laurel Jr.,
00:31this will help not only to reduce the loss of the NFA,
00:35but it will also provide additional funds to buy more rice from our farmers.
00:43Under the NFA, about P400,000 per 50 kilos bag of rice
00:50or equivalent to 12,600 metric tons of rice supply will be purchased by the NFA as an additional income.
