President Ferdinand Marcos Jr. said Wednesday that government, through the Department of Agriculture, is looking at imposing a floor price for palay to ensure farmers profitability and sustain their intention to plant and produce more rice.
During a visit to the NFA warehouse in San Ildefonso, Bulacan, President Marcos joined farmers in an informal huddle and announced that the government is looking at replicating for palay that floor price system practiced in the tobacco industry in the Ilocos Region.
“Pinag-aaralan namin na magkaroon ng floor price (sa palay) para wala naman malugi,” said the President. “Kapag kasi masyado malikot ang presyo, hindi makapag-plano ng maayos.”
He emphasized that the government wants farmers to earn enough to sustain their planting intentions, especially with stronger support from the DA.
DA estimates showed farmers spend between P12 to P14 to produce a kilo of palay. The government, through the National Food Authroty, currently buys palay within a range of P18-P24 a kilo.
