NFA says it has enough rice to cover lean months

MANILA, Philippines - The National Food Authority on Tuesday assured the public that it has enough inventory for the country's rice requirements amid the earlier start of the monsoon season and the lean months some six weeks away. Food agency administrator Jessup Navarro made the statement following four typhoons which damaged agricultural crops. Navarro said the government's rice importation program and the aggressive palay procurement during the main and summer harvest boosted NFA's inventory. As of the first week of May, the government has some 21.9 million bags or 1.09 million metric tons (MT) of rice, enough for the next five months based on the country's daily requirement of 35,000 metric tons. "Our stock inventory at present is more than double the required 15-day food security buffer," said Navarro. He said the Food Agency has took lessons to heart following last year's rice supply aberrations and has implemented several strategies to improve its grains inventory including the increase in its domestic palay procurement. The NFA is targeting to buy 18.5 million bags of palay this year, higher than the 13.2 million bags of palay it procured in 2008. - GMANews.TV