NFA discuss with MAO, Pagbilao farmers two rice trade programs

The National Food Authority (NFA) – Quezon Provincial Office, through the Grand Farmer’s Ugnayan, discussed with the Municipal Agriculture’s Office and Pagbilao farmers two of its key programs in rice trade: Farmer’s Option to Buy-Back (FOBB) and Palay Marketing Assistance Program for Legislators and Local Government Units (PALLGU), April 25, 2017. Pagbilao Mayor Shierre Ann Portes-Palicpic dropped by to hear the discussion.

The Farmer’s Option to Buy-Back or FOBB, according to the National Food Authority, is a system that “allows farmers or farmers organization (FOs) to sell palay to NFA and to buy-back almost the same volume of stocks they sold to the agency within six (6) months or one cropping cycle for resale to traders when prices are better than NFA’s support price.”

In addition, the FOBB is aimed at helping farmers safely stock their “ani” or rice grain produce. Specifically, it aims to fulfill the following: (1) Provide farmers/FOs an opportunity to maximize their earnings through proper timing in the sale of their stocks, (2) Provide farmers/FOs warehouse space for proper storage of their produce, (3) Address the need for immediate cash, (4) Assure the proper maintenance of their stocks to ensure quality, and (5) Develop the farmers’ entrepreneurial capability and encourages their involvement in food security and stabilization.

On the other hand, the Palay Marketing Assistance Program for Legislators and Local Government Units or PALLGU is aimed at enabling “palay farmers to maximize their income and at the same time assists the Legislators and the Local Government Units (LGUs) in sourcing their palay requirements intended for their constituents.”

As shared by the NFA, “Under the program, the Legislators or heads of LGUs shall enter into a marketing agreement with NFA where the former shall provide a premium amount which shall be added to the existing NFA support price when buying palay from individual farmers/Farmers’ Organizations (FOs). In return for the premium provided, the farmers/FOs shall execute a Special Power of Attorney (SPA) authorizing the Legislator/LGU to buy back the palay stocks they sold to NFA.”

 

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