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Manila Bulletin devider Business devider DA chief lays out proposed P15-billion RCEF allocation

DA chief lays out proposed P15-billion RCEF allocation

Published May 6, 2024 05:31 am

With recent support having been garnered from President Marcos, the Department of Agriculture (DA) has asked the House of Representatives to further pursue amendments to the Rice Tariffication Law (RTL), specifically on the extension of the Rice Competitiveness Enhancement Fund (RCEF).

In a hearing at the House of Representatives on Monday, May 6, Agriculture Secretary Francisco P. Tiu Laurel Jr. spoke about the importance of revising the RTL, and how it extends its support to local farmers.

He believes that the revision of the law would be imperative since the country is facing challenges due to the volatilities caused by world conflicts and climate change.

Certain changes proposed to the Republic Act 11203 would pose bigger financial adjustments to the RCEF.

During the hearing, the proposal stated an increase of total annual appropriation of RCEF to P15

-billion distributed to various DA agencies and programs.

Within the said budget, 50 percent or P7.5 billion will be allotted to the Philippine Center for Postharvest Development and Mechanization (PhilMech) for post-harvest facilities and storage.

About 30 percent, or P4.5 billion, will then be allocated to the Philippine Rice Research Institute (PhilRice).

Other allocations, like the expansion of the rice credit assistance and rice extension services program, would be given P900 million each, as both initiatives would get a six-percent share of the proposed P15-billion budget.

The Bureau of Soils and Water Management (BSWM) has been earmarked four percent of the budget, equivalent to P600 million for soil health improvement purposes.

The Pest and Disease Management, as well as the Rice Industry Development, will each receive P300 million. This would allow them to establish the Office for the Integration of RCEF Priority Programs and Projects (PAPs).

If approved, the RCEF would be extended until 2030 to ensure a comprehensive development of the rice industry.

The agriculture chief believes that these amendments would provide preferential attention to rice farmers, cooperatives, and associations.

Moreover, the proposed change would permit the President to reallocate the RCEF, given that there’s recommendation made from the DA secretary and the RCEF program steering committee.

Excess tariff revenues can also be dispersed to various programs as determined by the DA chief, while the Department of Budget and Management (DBM) will augment the funding requirement of the enhancement fund in case tariff revenues are below P15 billion.

Related Tags

Francisco Tiu Laurel Jr. Rice Tariffication Law (RTL) RCEF Department of Agriculture
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