THE Department of Agriculture (DA) announced that National Food Authority (NFA) rice would now be sold to accredited retailers at a cheaper price of P23 pesos per kilogram from the previous P25 per kilo, according to Dano Tingcungco’s Sunday report.
DA secretary William Dar said retailers could sell the rice at P27 per kilogram, but no higher.
Dar added that the lower price meant higher profits for retailers and the NFA could now move its stock faster.
“Ang council ay nag-decide to reduce this price level to retailers from 25 to 23 para mas magaan, mas mabilis ‘yong paglabas ng mga imported rice stocks ng NFA and para may four pesos na margin sila at mas mabilis ‘yong pagbenta ng NFA rice,” explained the Agriculture secretary.
Dar said the move was in line with the NFA’s revised mandate under the Rice Tariffication Law.
The new NFA rice prices took effect last Oct. 25. (GMA News)
