The study reviews the National Food Authority's (NFA) price stabilization mandate in the light of certain developments like the General Agreement on Tariffs and Trade - World Trade Organization (GATT-WTO) under which the Philippine government is a signatory, and the Asian financial crisis. It notes that the institutionalization of GATT-WTO and the suspension of NFA's tax subsidy brought about by the Asian financial crisis have little effect on the price stabilization mandate of the NFA since the budgetary outlay for market support price for rice and corn is way below the limit set therefore and the NFA was still able to import rice and corn.
