NATIONAL Food Authority administrator Larry Lacson said they are proposing a P27-billion budget for 2026 to fully fund their rice buffer stock for 15 days in line with the agency’s mandate to ensure national food security.
“Our proposal covers the procurement of around 900,000 metric tons of palay from local farmers. We based our request on the maximum estimated expenses for the year,” Lacson said in a briefing Wednesday.
“As we know, the full amount is not actually given. That’s why we proposed the maximum, so that even if it’s reduced, we can still procure from farmers,” he added.
Lacson explained that in 2023, the NFA received P9 billion, but was only able to procure enough palay for a one-day buffer stock, citing limited local production as the major constraint.
When Lacson assumed office in March 2024, he said P8 billion in unused funds from the previous year were carried over.
Combined with the P9 billion allocated for 2024, the NFA had P17 billion for palay procurement. Of this amount, P12 billion was spent last year, raising the buffer stock to nine days.
The remaining P5 billion was used in early 2025, along with P9 billion already spent for procurement this year.
At present, the NFA still has P9.8 billion in available funds to support procurement for the coming cropping season.
“We won’t have problems procuring palay this year. We still have enough to buy from farmers this coming harvest,” Lacson said.
“But for 2026, we’re assuming the current funds will be fully used up, which is why we’re requesting P27 billion to sustain a full 15-day buffer,” he added.
