The Land Bank of the Philippines released P31 million to fund the P5,000 cash assistance program for 6,200 rice farmers in Cagayan as part the implementation of the Rice Farmers...
The Land Bank of the Philippines released P31 million to fund the P5,000 cash assistance program for 6,200 rice farmers in Cagayan as part the implementation of the Rice Farmers Financial Assistance program under the Rice Competitiveness Enhancement Fund . Among those who received the P5,000 cash assistance are 3,000 rice farmers in Gattaran town; 1,850 in Allacapan and 1,350 in Aparri, Cagayan.
The RFFA program extends P5,000 cash subsidy to rice farmers tilling not more than two hectares to partly compensate for depressed palay prices arising from liberalized importation under the Rice Tariffication Law . Land Bank said it will also extend the cash assistance to beneficiaries in other Cagayan municipalities, including Buguey, Calayan, Camalaniugan, Lal-lo, Gonzaga, Sta. Ana and Sta. Teresita. At least 1.8 million rice farmers will benefit from the P5,000 cash assistance program.
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