NFA Rice Inventory Stands at 7 Million Bags

The current rice inventory of the National Food Authority stands at only seven million bags due to huge demand from local governments units and relief agencies amid the coronavirus lockdown.

Despite the thin inventory, NFA administrator Judy Dansal said there is no reason to worry even as the lean season has already started.

Dansal said, “Our current buffer stock, which if NFA will feed the 109 million Filipinos daily will only last for seven days. But, that is not the situation. We only share a maximum of five percent market participation and this time, only two percent of the 33,000 metric tons daily consumption requirement.”

The private sector holds the bulk of the country’s inventory, especially since the Philippines opened its door to more imports last year.

Even Agriculture Secretary William Dar emphasized that there is enough rice inventory this month and thereafter, saying there is “No cause for alarm. We have enough rice supply.”

Source: https://www.philstar.com/business/2020/08/10/2034067/nfa-rice-inventory-stands-only-7-million-bags

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