Manila: Senator Joel Villanueva on Thursday announced that the Senate is prepared to review and potentially amend existing laws governing the National Food Authority (NFA) to restore and enhance the agency's regulatory powers. This initiative aligns with President Ferdinand R. Marcos Jr.'s agenda to reinstate the NFA's original mandate of buying and selling rice, which would enable more effective intervention in the supply chain.

According to Philippines News Agency, Senator Villanueva stated that this legislative move aims to bolster protection for farmers who are currently struggling due to low farmgate prices of palay and insufficient income. Restoring the NFA's powers is seen as a critical measure to stabilize the market and ensure equitable farmgate prices, which have seen a considerable decline in recent months.

The Senator further highlighted that any proposal to revive the NFA's original functions must incorporate safeguards to professionalize its operations, thereby preventing potential abuse or inefficiency within the agency. By addressing these issues, the initiative seeks not only to stabilize the rice market but also to contribute to lowering rice prices for consumers.