Manila, Feb. 11 -- The rice stock inventory of the National Food Authority (NFA) rose by 485.1 percent in January compared to the same period last year, recent Philippine Statistics Authority (PSA) data show.

The NFA depositories logged 284,810 metric tons (MT), significantly higher than 48,680 MT rice stocks in January 2024.

In a phone interview Monday, NFA Administrator Larry Lacson said the surge in national rice buffer stock was due to the higher buying price scheme for local palay (unhusked rice), which is set at PHP23/kg. to PHP30/kg. for dry palay, and PHP17/kg. to PHP23/kg. for fresh or wet palay.

"That allowed us a good chance of buying palay from the farmers kasi dati, hindi tayo nakakapamili sa mga farmers dahil ang presyo n...