Trade and markets
 

Detail

Area
Philippines
Commodity Group
Rice
Commodity
All
Date
11/10/2018
Policy Category
Production
Policy Instrument
Government procurement
Description
Announced that the National Food Authority would offer an incentive of PHP 3.0 per kg (USD 55.4 per tonne) of clean dry paddy bought from local farmers. The incentive would be paid on top of the government procurement price of PHP 17 per kg (USD 314 per tonne) and a drying and delivery incentive of PHP 0.7 per kg (USD 13 per tonne). Additional efforts to shore up domestic procurement of paddy would include linking state programmes distributing farm machinery and providing credit assistance to sales to the National Food Authority.
Notes
Exchange rate as of 15 October 2018.