AreaPhilippines

Commodity GroupRice

CommodityAll

Date18/09/2023

Policy CategoryProduction

Policy InstrumentGovernment procurement, purchasing prices

DescriptionRaised the effective buying price of the National Food Authority by 21 percent for clean dry paddy to PHP 23 000 (USD 404) per tonne and by 19 percent to PHP 19 000 (USD 334) per tonne for wet paddy. This level would include a PHP 3 000–4 000 (USD 53-70) per tonne Buffer Stock Incentive (BSI) that could be adjusted and approved per province on a weekly basis, based on prevailing ex-farm paddy prices.

NotesExchange rate as of 16 October 2023.