BBM vows sufficient rice buffer stock
(UPDATE) PRESIDENT Ferdinand "Bongbong" Marcos Jr. assured the public that his administration will ensure adequate rice supply in the country.
Marcos made the statement after he met on Tuesday with his economic team and officials of the National Food Authority (NFA) "to plan the administration's steps on maintaining sufficient rice buffer stock in the country," according to Malacañang.
"We also met with the officials of the National Food Authority so that we can ensure that we have a sufficient supply of rice in the country," the President said in a post on his social media.
Marcos, who also heads the Department of Agriculture (DA) and chairs the NFA Council, earlier called for the operationalization of the "Masagana 150" and "Masagana 200" proposals of former secretary William Dar, citing the looming food crisis.
He also proposed a farm-to-market road masterplan that will ensure food security.
The President said his administration has increased the provision for buffer stock capacity from nine days to 15 days under the proposed P5.268-trillion national budget for 2023.
The government has allocated P12 billion for the NFA's Buffer Stocking Program to buy 631.579 million metric tons of palay from local farmers.
"There is also an allocation of P670 billion for the purchase of high-quality rice and corn seeds for seed buffer stocking under the DA," Marcos said in his budget message.
This will ensure enough supply of seeds to be used during calamities and emergencies that in turn affect rice and corn productions, he added.
During his campaign, he promised to bring down the price of rice to P20 a kilogram. He later said this was an aspiration.
In July, the President said his administration would rather increase the production of rice and corn rather than import even more, to stabilize the prices of food.
"Importation has been used as a price stabilization measure. I don't think that that is the primary reason for the importation that we'll do now," Marcos said. -excerpt


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