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Byline: Neil Jerome C. Morales
THE GOVERNMENT has given in to farmers' demand for a higher buying price for yellow corn.
The National Food Authority (NFA) has adopted a two-tiered support price in buying 600,000 MT of yellow corn from local farmers this year, the grain agency said in a press release yesterday.
It will buy the first 300,000 MT of the feed ingredient at P13 per kilogram, and the remaining 300,000 MT (after the first half is exhausted) at P10.70/kg. In both tranches, the prices incorporate "incentives" amounting to P0.70/kg, composed of P0.20 as incentive for farmers to dry their corn within prescribed levels, P0.20 to deliver their corn to …