At A Glance
- Tens of thousands of rice farmers have availed of President Marcos' unconditional cash assistance with more expected to do so. <br>The Department of Agriculture oversees the Rice Farmers Financial Assistance (RFFA) Program.<br>A total of 44,719 farmers with two hectares of land or less have benefited from the P5,000 cash assistance earmarked by the DA for an estimated 2.4 million farmers.<br>The Development Bank of the Philippines is distributing the funds, in partnership with Universal Storefront Services Corp. (USSC).<br>USSC is utilizing its network of over 850 stores nationwide, as well as ATMs operated by other banks and non-bank entities under BancNet, for the distribution of the cash grants.<br>USSC expects more withdrawals before the New Year and in the first week of January.<br>The regions with the highest withdrawals of RFFA grants were CAR, CARAGA, and MIMAROPA.<br> President Marcos approved the release of a PhP12-billion financial package to aid rice farmer beneficiaries in coping with increasing production costs and sustaining productivity in the face of challenges like the upcoming El Niño.
President Marcos' unconditional cash assistance has been utilized by tens of thousands of rice farmers, and the Department of Agriculture (DA) expects many more to take advantage of the Rice Farmers Financial Assistance (RFFA) Program.
In the past seven days, ending on Wednesday, Dec. 27, a total of 44,719 farmers tilling two hectares of land or less have received the P5,000 cash aid allocated by the DA for an estimated 2.4 million farmers.
The department has tapped the Development Bank of the Philippines to disburse the funds.
Subsequently, the state-owned bank has partnered with the local financial technology firm Universal Storefront Services Corp. (USSC) to utilize its network of over 850 stores nationwide, as well as ATMs operated by other banks and non-bank entities under BancNet, for the distribution of the cash grants.
USSC reported that out of the targeted 2.38 million beneficiaries, a total of 499,381 were registered only within this year.
Jonathan Relucio, head of branch operations at USSC, said that they expect a surge in withdrawals leading up to the New Year and during the initial week of January.
The regions with the most substantial number of withdrawals for RFFA grants were the Cordillera Administrative Region (CAR), CARAGA, and MIMAROPA.
“As we enter the New Year, we expect more disbursement files and letters of instruction to come in from the Department of Agriculture regional offices,” Relucio said.
President Marcos approved the disbursement of a P12-billion financial package to aid rice farmers in managing the rising production costs and maintaining their productivity in the midst of challenges such as the upcoming El Niño.
The RFFA constitutes unconditional financial support for farmers, financed by the surplus tariff revenue generated from rice imports in 2022, amounting to P12 billion.
The 2023 RFFA recipients encompass farmers registered in the Registry System for Basic Sectors in Agriculture as of June 30, 2023.
As an unconditional cash subsidy, beneficiaries have the flexibility to utilize the funds for daily sustenance and personal requirements.