BY RANDY NOBLEZA

THE National Food Authority yesterday said it will sell commercial rice at P35 a kilo. The same quality of rice is now selling at P40 to P42 a kilo.

The new NFA rice which will be out in Manila and Quezon City markets next week is 5-15 percent broken. The cheap NFA rice (P18.25 a kilo) is 20-25 percent broken.

NFA administrator Jessup Navarro said the NFA is still selling rice at P18.25 and P25 per kilogram in the markets.

Last week, Agriculture Secretary Arthur Yap said prices of commercial rice during the lean months (July to September) would stabilize between P35 and P37 per kilo.

The NFA also reiterated its plan to inject the market with 300,000 metric tons of rice during the lean months until September. It said this would stabilize prices during the lean months starting July.

Yap reiterated the country already has adequate supply and imports are for buffer stocks.

"This purchase was made in keeping with our plans to go back to the market to further augment our buffer stocks when the price and other conditions are suitable for us," he said, referring to the 600,000 tons it recently procured from Vietnam.

The $564 million purchase will consist of three rice grades, with the 25 percent broken variety making up the majority of the imports, a source from the NFA said.

The Philippines will get 360,000 tons of 25 percent broken and 180,000 tons – or 30 percent of the total shipment from Vietnam – in 15 percent broken.

The rest, or 60,000 tons, will be at a higher grade of 5 percent broken.

The country paid an average price of $940 a ton, including cost and freight, for the shipment, which will be delivered between July and September.

The NFA source did not give the price per grade of rice.