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NewsTranscript
00:00The Department of Agriculture is asking the National Food Authority, NFA, to return their power to lower the price of rice.
00:08According to Agriculture Secretary Francisco Chu Laurel in the House-Kinta Committee,
00:13the NFA can sell their buffer stock at the price of Php 29 to Php 30 per kilo.
00:20But since the effective rice stratification law of 2019,
00:24the NFA has no power to buy, sell, and import rice.
00:29When asked if the Executive Order of the President can be issued to export rice to the market,
00:35the DA said they will consult this with their legal department.
00:39Chu Laurel also said that if the Congress returns some of the former power of the NFA,
00:45abuse and manipulation of the price of rice will also be fought.
00:52The NFA used to register all rice traders.
00:56Now, it's gone.
00:58If the rice trader doesn't follow the agreement,
01:01the NFA can remove the license or permit to operate.
01:06Before, the NFA can import rice to address the shortage.
01:12Now, it can't.
01:13So, it's a big thing that the NFA will return its powers.