Small rice farmers are at high chance to receive financial aid until 2024 following the approval of the Senate on Monday for the final reading of the Cash Assistance for Filipino Farmers Act of 2020.
The Bureau of Customs (BOC) is mandated to remit annual rice tariff revenues of more than ₱10 billion to the Department of Agriculture (DA) so that the excess fund can be allocated to farmers with one hectare or less of rice land until 2024.
“The State recognizes the urgency for our farmers in light of the current state of declining palay prices and to crippling effects of the Covid pandemic,” the bill stated.
“Towards this end, the State shall provide monetary assistance to the hardest hit segments of our small farmers in the form of actual giving of cash to farmers,” the bill indicates.
The BOC and the DA are also mandated by the bill to submit an annual report to Congress on the remittance of funds for farmers.
However, though the small rice farmers are expected to receive financial aid, the Rice Competitiveness Enhancement Fund (RCEF) is still in effect.
In line with the passage of the bill to the third reading, farmers are continuing to appeal in the withdrawal of rice tarrification law that limits to import of rice in the country to stabilize prices of the staple grain.
The continuous import of rice in the country had badly affected the country's 2.1 million local farmers as they are forced to sell their product at a lower price, reportedly losing a total of ₱140 billion in last year’s income.
Words by Louie Jay Vildosola
Layout by Kiziah Magbanua
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