Cash assistance deemed to be expanded to aid rice farmers in adjusting to lower paddy prices, Finance Secretary Carlos Dominguez III and Agriculture Secretary William Dar revealed as they directed the implementation assistance for farmers.
The Survival and Recovery (SURE) program of the Agricultural Credit Policy Council (ACPC) shall be expanded to allocate and distribute unconditional cash assistance for farmers.
ACPC is one of the agency affiliated to the Department of Agriculture (DA).
“The expansion of SURE to assist the rice farmers will also build on the good experience under the Pantawid Pamilyang Pilipino Program (4Ps) program of the Department of Social Welfare and Development (DSWD)”, reported from Agrinationph.
“This unconditional cash assistance program is meant to help cushion the initial impact of lower palay prices on our farmers as they transition to the new rice tariffication regime,” Dominguez said.
“For the long haul, the Rice Competitive Enhancement Fund (RCEF )facility under RA 11203 will help sharpen the global competitiveness of our farmers by way of an array of programs providing them with access to farm machinery and equipment, high-yield seeds, cheap credit and skills training programs on farm mechanization and modern farming techniques,” he added.
Moreover, RCEF is the annual P10-billion collected tariffs of the Bureau of Custom (BOC) from the rice imports by private traders following the enactment of the rice tariffication law.
In excess of the 10 billion tariff revenues will be used for the adjustment assistance of the farmers.