The amended Rice Tariffication Law (RTL) in the Philippines, effective December 25th, aims to support rice farmers through increased funding for modernization and mechanization. The Rice Competitiveness Enhancement Fund (RCEF) has been tripled to P30 billion annually and extended to 2031. The law also grants the Agriculture Secretary the authority to declare a national food security emergency in times of supply shortages or price fluctuations, allowing the NFA to release buffer stocks and facilitate emergency imports.
THE amended Rice Tariffication Law , which took effect on Dec. 25, is a 'fitting Christmas gift' to rice farmers and their families, Agriculture Secretary Francisco Tiu Laurel Jr. said in a statement.In the revised RTL, or Republic Act 12078, the fund allocation for the Rice Competitiveness Enhancement Fund was tripled from P10 billion to P30 billion, and extended by six years to 2031.
The amended RTL also shortens to two months the period for the National Food Authority to hold rice for emergency use. These stocks can be available for purchase by the public through Project 29 . However, the law, which still prohibits NFA from selling its buffer stocks to the public, allows the release of rice reserves only in times of emergency.
Rice Tariffication Law RCEF Rice Farmers Food Security Agriculture Modernization
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solon sees lower rice prices in 2025 after signing of Agricultural Tariffication ActA senior lawmaker of the House of Representatives on Monday expressed optimism that rice prices will drop further next year following President Ferdinand Marcos Jr.’s enactment of Republic Act (RA) No. 12078, or Agricultural Tariffication Act. Camarines Sur Rep.
Read more »
New law amending Agricultural Tariffication Act a win for Pinoys, says Romualdez“This measure shows that we can fight inflation and support our farmers at the same time.'
Read more »
PBBM inks law to address rice supply shortagePresident Marcos signed into law on Monday, Dec. 9, the law amending the Agricultural Tariffication Act (ATA) to make the country’s rice industry more competitive.
Read more »
Philippines Considers Rice Emergency Declaration to Curb High PricesAgriculture Secretary Francisco Tiu Laurel Jr. backs a proposed rice emergency declaration to address soaring rice prices. He believes it would allow the National Food Authority (NFA) to release its buffer stock at affordable rates. The Department of Agriculture (DA) is also combating rice profiteering through the Rice-for-All program, aiming to make affordable rice more accessible and undercut profiteering. The program, offering rice at P40 per kilo, is expanding to more public markets and grocery outlets.
Read more »
Marcos signs law to boost rice industry, support farmersSunStar Publishing Inc.
Read more »
President may allow rice imports at lower tariff rate under new agri lawLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »