Palace reviews bill restoring NFA power to sell rice

The proposed amendments to the Rice Tariffication Law (RTL) are now pending review before the Office of the President, with President Marcos expected to sign the new law that seeks to restore the price stabilization and supply regulation functions of the National Food Authority (NFA).

House ways and means committee chairman and Albay Rep. Joey Salceda said it is up to the President whether to veto some of the provisions of the proposed measure.

The RTL or Republic Act 11203 removed the mandate of the NFA to sell rice in markets. Enacted in 2019, the RTL allows unlimited entry of imported rice to the country in a bid to keep prices low due to increased supply. NFA administrator Larry Lacson said Malacañang already sought the comment of their agency on the proposed amendments to RTL.

Under the proposed measure, the NFA will be allowed to sell its buffer stock to the public through Kadiwa outlets during food security emergency situations to help stabilize rice prices.

“I hope we will be allowed even for limited (volume). My estimate is between 16,000 and 20,000 metric tons a month. If I compute it, if it covers 1,600 municipalities and cities, that’s only 200 bags per month (for each municipality)… At least, the public can have an option to buy P38 (per kilo). Unlike now, we are pressured to bring down the retail price to P40 per kilo,” Lacson explained.