00:00In order to lower the price of rice in the market and to buy more local rice from farmers,
00:07the National Corn Authority has decided to issue 1,000 sacks of rice to local governments.
00:17The National Corn Authority has decided to sell 300,000 sacks of rice to local governments.
00:24According to the NFA, rice is considered non-regular or old stock.
00:30It has been more than a month since it was imported to the warehouses,
00:33but the quality is still good.
00:35The NFA wants to release the supply of rice to their warehouses as soon as possible
00:42and to improve the income of the farmers during the harvest season.
00:49Some branches and warehouses, we can't really accept a lot of rice because we don't have a place to store it.
00:58After a month, let's say next month, that whole, almost 700,000 bags of rice,
01:08it will be considered as two months and above that it can be disposed of as an aging stock.
01:14The Department of Agriculture has already implemented the mechanism of selling NFA rice to LGUs
01:22and to local governments to sell NFA rice to their residents.
01:29Next week, the DA will meet with the Metro Manila Council to sell NFA rice for Php 38 per kilo.
01:38It's cheaper than reaching Php 65 per kilo of rice in the market.
01:43That's why the result when it reaches the consumers, according to the DA,
01:50It can still bring down the price because the available rice is cheaper.
01:58Now, the National Food Authority has Php 15 billion to buy local rice for the farmers.
02:08They will use the funds for rice procurement to sell their rice to the farmers
02:16at a reasonable and good price of Php 25 per kilo.
02:22According to the NFA, there are rice processing facilities that can be completed this year.
02:28There are rice grinders and dryers.
02:31That means, Princess, that the NFA will be able to buy more rice
02:38and more local farmers will be able to help.
02:42That's the latest news. Let's go back to the studio.
02:46Thank you very much, Clayzel Pardilia.
