The provincial government of Bohol on Wednesday announced the relaunch of its “Palay Buy-Back” program, aimed at supporting local farmers by purchasing unmilled rice at fair prices.
The program, which was implemented during the last harvest season, will see the government buy palay from farmers at a rate of PHP20-30 per kilogram, depending on the area and market conditions.
According to Liza M. Quirog of the Office of the Provincial Agriculture, the buying rate for the current harvest season may be lower than the PHP30 per kilogram rate offered during the October-December period.
However, Quirog said that traders are required to observe a minimum buying price of PHP20 per kilogram, with some towns already offering as high as PHP22 per kilogram.
The “Palay Buy-Back” program is linked to the “Bugas Bol-anon” initiative, which sells the purchased rice at a subsidized rate of PHP45 per kilogram at the Showcase Center in Tagbilaran City.
The program, which started two weeks ago, has already restocked its supply for the current week, Quirog said.
The initiative aims to provide support to local farmers and help stabilize the rice market in the province.
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