Farmers pleased with palay buying price

Farmers pleased with palay buying price—NFA

San Juan, La Union—Buying price of palay in the region continues to record high farm gate price even as harvest season for the summer cropping season has reached its peak. And this is pleasant news to palay farmers.

For Isidro Bacani and Alejo Abat of Bucao, San Gabriel, La Union, the buying price of P23 per kilogram which traders buy their produce is just enough for them to have a good return of their investment. They said that the said amount compensates the rise in farm inputs including seeds, fertilizers and even wage for farm helpers which they pay from the preparation of the farm until the harvest of their produce.

The same is true for Julita Coloma of Naguirangan, San Juan, La Union who is hopeful that the present buying price of palay will continue for farmers like her to have better returns citing also rising cost of production.

The National Food Authority here reported that based on their monitoring, dry palay’s buying price remains at a low of P22 per kilogram to a high of P23 per kilogram. National Food Authority regional director Carlito G. Co said that he doesn’t see any easing up in the buying price as rice traders continue to compete with each other to buy as many stocks of palay as they can.

“The buying price is still high at this time when harvest season have peaked. Usually this should have been on the downtrend as fresh harvest starts to come in. But the high price of commercial rice in the market drives the traders to compete to corner a big volume of the harvest for their inventory, hence, the unusual high price of palay being enjoyed by the farmers”. This bode well for our farmers as this would translate better income from their investment”, Mr. Co said.

“Our farmers invest a lot in planting the crop until it is harvested. So when the buying price of palay is high, they expect to have a good return in their investment. At P23.50 per kilogram, a 50 kilogram sack of palay will fetch at P1,175. This is definitely very good news to our farmers. If such trend continues, we expect more and more farmers to be planting palay which is good for our goal of achieving rice self-sufficiency level”, the director added. (NFA)

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