MANILA — The National Food Authority (NFA) is set to auction off up to 60,000 metric tons of aging rice stocks starting next month until October to prevent spoilage, free up warehouse space, and reinforce rice supply amid the temporary import suspension.

Agriculture Secretary Francisco P. Tiu Laurel Jr., who chairs the NFA Council, said the move supports President Ferdinand Marcos Jr.’s order to suspend rice imports for 60 days beginning September 1 to boost palay prices during the peak harvest season.

“We’re essentially hitting three birds with one stone: avoiding supply shortfalls, clearing space so NFA can buy more palay from local farmers, and preventing spoilage of aging rice,” Tiu Laurel said.

NFA Administrator Larry Lacson explained that government relief agencies will have the first opportunity to purchase the rice in September before the public auction opens. Only stocks at least two months old may be auctioned off.

The bidding will adopt a graduated pricing scheme, with floor prices ranging from P27.96 to P25.01 per kilo, depending on how long the rice has been stored. NFA classifies rice as “aging” once it reaches the third month from milling.

Currently, NFA holds a buffer stock of 450,000 MT—enough to cover 12 days of national demand in emergencies. The auction represents about 1.2 million sacks, or 13 percent of this stockpile.

An earlier plan to auction palay was shelved due to weak market prices, according to acting NFA department manager Roy Untiveros.

With the harvest season underway, the NFA said it aims to balance warehouse management, market stability, and farmer protection through the auction.