QUEZON CITY, Philippines — The National Food Authority (NFA) has announced a massive auction of its aging rice inventory, offering more than P900 million worth of milled rice to generate funds and clear storage space for incoming local harvests.
According to an invitation to bid released on Saturday, February 7, 2026, the agency is offering 737,339 bags of milled rice that have been stored for more than three months.
Auction Details and Pricing The aging stocks, currently stored in NFA warehouses nationwide, are valued at approximately P909.8 million.
- Price Range: Depending on the duration of storage (ranging from three to 18 months), the rice is priced between P22.52 and P25.16 per kilogram.
- Key Locations: While warehouses across the country are involved, the bulk of the stocks are located in the National Capital Region (NCR), Cagayan Valley, and Ilocos.
- Sale Terms: The disposal will be conducted on an “as-is-where-is” and “no selection” basis.
Bidding Timeline
- Pre-auction Conference: Scheduled for February 13, to be held in person or via webcasting to discuss terms and address bidder concerns.
- Proposal Submission: Interested parties must submit proposals to regional offices by February 18, or to the central office in Quezon City by February 20.
- Opening of Bids: Tenders will be opened on February 20.
Eligibility and Requirements The auction is open to a wide range of participants, including farmers’ organizations, cooperatives, and private entities engaged in the grains business (wholesalers, retailers, and processors). Bidders are required to post a bid bond equivalent to at least 10 percent of the total price.
Strategic Purpose NFA Administrator Larry Lacson explained that the auction serves a dual purpose: disposing of older stocks that have reached their regulatory limit and generating the liquid capital necessary to purchase freshly harvested palay (unmilled rice) directly from local farmers.
Under existing Philippine law, the NFA is authorized to auction off milled rice stocks once they have been in storage for at least three months. This cyclical disposal ensures that the national buffer stock remains fresh while supporting the local agricultural economy through continuous procurement.