Manila: The National Food Authority (NFA) has received commendation from the Commission on Audit (COA) for achieving a 'near-optimal' national rice buffer stock, as reported by the Department of Agriculture (DA) on Friday. The acknowledgment is a notable departure from previous years, reflecting the NFA's effective management of its rice inventory.

According to Philippines News Agency, the COA awarded the NFA a 'rare commendation' in its latest Audit Observation Memorandum (AOM). This recognition was due to the agency's successful implementation of the Price Range Scheme (PRICERS), which the COA described as an 'innovative reform.' This initiative enabled local farmers to sell their produce to the NFA at competitive prices, ranging from PHP23 to PHP30 per kilogram for clean and dry palay, and PHP17 to PHP23 per kilogram for fresh and wet palay.

The NFA achieved 90 percent of its 495,000 metric tons (MT) procurement target for 2024, successfully hitting the mandated 300,000 MT national rice stock. The COA's AOM praised the NFA's management for maintaining the required buffer stock, which plays a crucial role in mitigating risks to the country's food security during calamities and emergencies.

NFA Administrator Larry Lacson expressed a commitment to continue enhancing these strategies to support local farmers, aligning with President Ferdinand R. Marcos Jr.'s directives. Lacson emphasized plans for sustaining aggressive palay procurement, particularly in regions with low palay prices, and the completion of repairs to 134 warehouses to facilitate increased purchases at fair prices.

DA Secretary Francisco Tiu Laurel Jr. extended gratitude to the COA for its commendation, viewing it as a strong endorsement of their ongoing efforts. 'We are pleased and thankful for this rare commendation from COA. It's a strong vote of confidence in our efforts to ensure farmers earn fair returns for their hard work as well as ensuring sufficient rice supply,' he stated.