The National Food Authority (NFA) on Thursday announced plans to auction up to 60,000 metric tons of aging rice stocks starting next month through October to prevent spoilage, free up storage space, and stabilize supply during a two-month rice import suspension.
Agriculture Secretary and NFA Council chairman Francisco P. Tiu Laurel Jr. said the move supports President Ferdinand Marcos Jr.’s directive to halt rice imports from September 1, aiming to boost local palay prices during peak harvest.
Before the auction, government relief agencies will have the option to purchase the rice in September, according to NFA Administrator Larry Lacson. Only rice stored for at least two months is eligible for auction, with prices ranging from P27.96 to P25.01 per kilo based on age.
The auctioned volume represents about 13 percent of NFA’s current 450,000 MT buffer stock—equivalent to 12 days of emergency supply or roughly 1.2 million sacks.
A previous plan to auction palay was canceled due to low market prices. The NFA is now focused on balancing warehouse efficiency, market stability, and support for local farmers as harvest season nears.
