While he is waiting for the outcome of the harvest season, President Ferdinand Marcos Jr. said he is open to import rice as the National Food Authority (NFA) buffer stock has been nearly used up.

In an interview in Bulacan on Wednesday, Marcos explained that the government is monitoring ongoing harvest which may last until May.

"We are watching and waiting to see what the production levels are going to be after the last planting season before the harvest, for the upcoming harvest. When we harvest there will be no problem in the supply... It is in the dry part where we are waiting for the last planting to be harvested," he said.

"So, we are monitoring that. We may have to import... we’re keeping that option open," he added.

Marcos explained that the buffer stock of the NFA has decreased due to the recent calamities, including storms and the COVID-19 pandemic where it was significantly used.

"The problem that we are facing now is because of the recent past. We were not lucky due to storms, the lockdown, pandemic etc. We have used the buffer stock of NFA," he said.

"What was left... Usually what we want is a buffer stock of nine days. Presently, the buffer stock of NFA is only one and a half days. If there is a storm maybe after two, three days, we no longer have any rice to provide," he added.

As he stressed that the NFA is only allowed to purchase rice to local producers due to Republic Act 11203 or the Rice Tariffication Law (RTL), Marcos said the government is looking at possible solution on how to increase the buffer stock of NFA while controlling the prices of rice in the country.

"There is a law that says the NFA should only buy from local producers. Now if the NFA is going to buy during the harvest season, the price of rice will increase," he said.

"That is our problem right now, how are we going to do that? Where we will get the supply to replenish the buffer stock of NFA because there is a possibility of a storm or an increase in the COVID-19 cases, the input price may increase. Whatever it is. We have to have that buffer stock and that’s the problem that we are wrestling with now because we are really monitoring the prices of agricultural commodities most especially the rice," he added.

Despite these challenges, Marcos expressed confidence that he does not see another round of rice crisis. ''"No. I don't," he said. Robina Asido/DMS