The bill seeking to extend and amend the rice tariffication law (RTL), which has allocated P10 billion yearly since 2019 to help farmers but is expiring this year, has reached the plenary in the Senate and is now up for debate.
Sen. Cynthia Villar, chair of the Senate committee on agriculture and food, sponsored during the plenary session on Tuesday the extension and amendments to the RTL, or Republic Act No. 11203, which created the Rice Competitiveness Enhancement Fund (RCEF) from tariffs collected on imported rice.
Senate Bill No. 2779, or An Act Amending Republic Act No. 8178, or the Agricultural Tariffication Act of 1996, as amended by RA 11203, is contained in Committee Report No. 282.
The House of Representatives approved on final reading last month the changes to the RTL, including an increase in the RCEF to P15 billion from P10 billion.
Enacted in 2019, the RTL lifted quantitative restrictions on rice imports and introduced tariffs to protect local rice producers and to respond to the appeals of stakeholders in the rice industry due to rising prices of the staple food.
The RTL sought to directly benefit farmers from the liberalization of rice trading by providing at least P10 billion a year to the RCEF up to 2024.
Lifted restrictions
Of the P10-billion annual RCEF budget, P5 billion is allotted for the free distribution of farm machinery and equipment, P3 billion for free distribution of high quality inbred certified seeds, and P1 billion each for credit support and training of farmers and extension.
Collections in excess of P10 billion go to the Rice Farmer Financial Assistance (RFFA) under Republic Act No. 11598, which took effect on March 5, 2019, and will expire this year.
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