The source of the fund is still being determined
MANILA, Philippines – The Marcos administration is planning to allot P2 billion from the 2023 budget to assist rice retailers affected by the government’s price cap on the national staple.
The move comes days after President Ferdinand Marcos Jr. signed Executive Order No. 39, which sets theThe EO takes effect on Tuesday, September 5. “We think that the supply left is very low,” Federation of Free Farmers Cooperatives national manager Raul Montemayor previously said,Think tank Foundation for Economic Freedom
He explained that currently, tariff collections returned to farmers under the Rice Competitiveness Enhancement Fund still go to the Department of Agriculture, which decides on how to use the funds.