Philippines to Hike Palay Buying Price to P21/kilo, Bolstering Farmers and Domestic Market
The Philippines' National Food Authority (NFA) will raise its minimum buying price for palay (unmilled rice) from P17 to P21 per kilo starting in the September harvest season. This move aims to reduce losses for local producers facing increased costs for fuel and fertilizers. Additionally, rice imports will be temporarily halted in Iloilo province, a major rice-producing area, until the end of November to bolster the competitiveness of domestic rice.
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- Philippines to Hike Palay Buying Price, Impose Import Curbs to Aid Farmers
The National Food Authority (NFA) in the Philippines will raise its buying price for palay (unmilled rice) to P21 per kilogram nationwide starting in September to address rising fertilizer costs. Additionally, a temporary ban on rice imports will be imposed in Iloilo province, a key rice-producing area, from mid-September to late November to prevent imported grains from entering during the peak harvest season.
- Philippines to Boost Palay Buying Price to P21/kg, Aid Farmers
The National Food Authority (NFA) of the Philippines will increase its minimum buying price for palay (unmilled rice) to P21 per kilogram from P17, starting with the September harvest. This move aims to support farmers facing rising input costs and bolster the competitiveness of domestic rice.