According to NFA marks 51st anniversary, told to maintain rice buffer stocks | Inquirer News, on September 26, President Ferdinand Marcos Jr. instructed the National Food Authority (NFA) to carry out its responsibility of making sure the nation has an adequate supply of rice buffer stock.
At the NFA's 51st Anniversary celebration, Senior Undersecretary of Agriculture Domingo F. Panganiban gave a speech in which Marcos praised the organization's work to ensuring food security.
The NFA's duty to maintain an adequate buffer supply of rice derived from local farmers should be fulfilled with the help of this 51st anniversary celebration. People have persevered in keeping a buffer supply of rice and palay, especially during catastrophes and disasters, Marcos remarked, despite the difficulties facing the farm industry.
A significant step forward, according to Marcos, was the formal signing of the NFA's credit line with the Landbank of the Philippines and the Development Bank of the Philippines.
President Ferdinand Marcos Jr. continued by saying that the NFA modernization initiative will be beneficial.
It has been so difficult lately. But, according to Marcos, the government keeps looking for the best answers to the problems it faces, without sacrificing the requirements of farmers and shopkeepers.
According to NFA marks 51st anniversary, told to maintain rice buffer stocks | Inquirer News, given the volatile rice prices on the market, the NFA recently increased the price at which palay may be purchased in an effort to increase farmers' revenue.