Philippines: NFA To Review Rice Prices

Philippines grains agency National Food Authority (NFA) is reviving a plan to increase the selling price of government-subsidized rice to curb its losses. 

The NFA first came up with the plan in April but did not push through with it in the face of opposition from consumers.

The government currently sells rice, including imported rice; at P18.25 a kilogram at accredited retail outlets and public markets.

The higher breakeven price can be attributed to the rising price of rice in the world market, which reached $1,200 PMT in April from about $400 PMT in January.