Rep. Garin Wants NFA to Flood Market with Cheap Rice

Iloilo Rep. Janette Garin urged the National Food Authority to flood the market with lower-priced rice using its aging stocks to help struggling consumers. Since apparently the law does not specify how aged rice is defined, Garin suggests that the NFA Council issue a resolution to shorten the aging period from three months. According to NFA data, about 5 million kilos of rice could immediately be sold at KADIWA outlets in December for P29 per kilo. If the aging period is reduced to two months, that figure would increase to 20 million kilos, and to 35 million kilos with just a one-month aging period. Garin says the rice could be sold at P33 to lessen NFA losses; NFA direct cost is around P42 per kilo.