BusinessWorld: NFA in E. Visayas limits rice buyers to 5 kg

TACLOBAN CITY — Retailers in Eastern Visayas accredited with the National Food Authority (NFA) have been instructed to limit sales to five kilograms of rice per buyer. Benjamin B. Marta, NFA regional manager, said authorities have to regulate distribution of NFA rice to prevent abuse by some rice traders. "If we won’t regulate the distribution, many businessmen might buy cheaper rice and sell it at a higher price," Mr. Marta said in an interview. He appealed to the public not to engage in panic buying, since there is actually enough stock. Total grain stock in NFA warehouses in the region on Tuesday reached 228,000 bags, which should be enough for the next 35 days based on the average daily sales of 6,500 bags, Mr. Marta said. He added that NFA expects a shipment of over 200,000 bags before the end of the month. "The rumor of food shortage is not true. Warehouses and stores of businessmen are filled with rice, but the price is not affordable to poor families," he noted. Based on monitoring by the local price council, prices of commercial rice went up to a range of P30/kg-P40/kg from P24/kg last month. NFA rice, on the other hand, remains at P18.25/kg. "There is enough rice supply among private traders, but it is expensive. The [price] increment is not anymore reasonable even if we expect price adjustment, considering that we are in the lean months. Local government units should initiate action to address this issue," Mr. Marta said. The Bureau of Agriculture Statistics reported that the total rice output in Eastern Visayas grew 14.3% to 950,000 tons last year. This year, the Agriculture department has projected that production in the region will exceed the one-million-ton mark despite losses due to flooding. — Sarwell Q. Meniano, BusinessWorld