LEGAZPI CITY, April 18 -- The National Food Authority (NFA) in Bicol on Thursday said it has prepared sufficient funds to buy palay (unhusked rice) during the ongoing harvest season.

In a phone interview, NFA-Bicol Regional Manager Julie Llenaresas said they have allocated a budget for the procurement of palay from local farmers under their cereal procurement fund.

"For sure, it is very sufficient. We have enough budget. If we exceed the procurement budget, our central office will replenish it immediately. Like for next week, we are waiting for another PHP40 million," Llenaresas said.

She said aside from the funds they allocated, the incentives and subsidies given by different local government units (LGUs) in the region are a big facto...