NFA to auction 750k sacks of ageing rice on Feb. 20

The National Food Authority (NFA) will auction 750,000 sacks of rice that have been stored at its warehouse in Valenzuela City for three months or more.

According to Bernadette Reyes’ report in “24 Oras” on Wednesday, the prices of the rice to be auctioned will vary, depending on its quality and age.

The minimum bid for stocks aged three to six months old will start at P25.16 per kilo. On the other hand, the minimum bid for rice stocks that are 18 months old is P22.52 per kilo. 

“Meron talagang pagkakaiba sa rice-producing regions na medyo maganda ang mga variety na tinatanim, gaya ng Region 3. Mas maganda ang kalidad ng bigas diyan,” said NFA administrator Larry Lacson. 

(There really is a difference in rice-producing regions where the varieties being planted are quite good, like in Region 3. The quality of the rice there is better.) 

The auction proper on the old stocks of NFA rice will begin on Friday, February 20. 

The NFA also assured the public that the old stocks of rice are safe for consumption. 

“Siyempre dahil gusto natin lumuwag ang bodega ng NFA at malapit na ang peak season ng harvest sa Marso, at makapag-generate ng revenue,” said Lacson. 

(Of course, because we want to clear out the NFA warehouses since the peak harvest season in March is approaching, and to generate revenue.) 

The NFA can purchase an equivalent of 1.5 million sacks of palay during the harvest season once the warehouse is cleared.

The agency expects the auction to generate over P900 million in additional funds.

Although the auction is only open to retailers, dealers, and wholesalers, regular consumers may still benefit from the bidding if the rice traders will sell the rice at low prices.

Local well-milled rice is currently sold between P40 to P54 per kilo. 

“Local rice, actually, medyo nagtaas tsaka mahirap kumuha ngayon. Ayun ang problema ngayon,” said JM, a rice retailer in Marikina City. 

(Actually, the price of local rice has gone up a bit and it’s hard to source right now. That is the problem right now.) — Vince Angelo Ferreras/JMA, GMA Integrated News