MANILA, Philippines — Farmers will now slowly benefit from the liberalization of the rice industry as the government released P2.46 billion as part of the tariffication fund, according to the Department of Agriculture.
The DA said the Rice Competitiveness Enhancement Fund (RCEF) is in the process of releasing P2.462 billion for two of its component programs.
The Department of Budget and Management (DBM) has released P2.038 billion to the Philippine Rice Research Institute to promote, acquire, and distribute certified seeds. Farmers listed in the Registry System for Basic Sectors in Agriculture (RSBSA) may now receive the seed support.
The DBM, through the Agricultural Credit Policy Council, also disbursed P244 million to the Development Bank of the Philippines (DBP), and P180 million to the Land Bank of the Philippines for the credit component to be loaned out to individual farmers and DA-accredited cooperatives and associations.
Funds for the mechanization and extension services programs will be available soon following the DBM’s issuance of the special allotment release order to Philippine Center for Post-harvest Development and Mechanization, Agricultural Training Institute, and Technical Skills Development Authority.
These form part of the P10 billion fund allocated for RCEF this year.
Meanwhile, seed distribution will commence next month and will cover 57 provinces, with a total area of more than one million hectares.
A farmer will receive a maximum of 80 kilograms of certified inbred rice seeds for two consecutive seasons depending on the size of the farm.
The DA said agreement with local seed grower associations and cooperatives as seed suppliers is already in place to ensure the availability and positioning of seeds for October to December distribution.
The DBP also signed a memorandum of agreement with Nagkakaisang Magsasaka ng Isabela Agricultural Cooperative and PayMaya Inc. to provide financial services to rice farmers through e-wallet cards.
Land Bank, on the other hand, has received loan applications from 97 individual farmers and seven cooperatives with a total loan amount of P38.07 million.
“There is also the conduct of social mobilization activities to engage local government units in the program implementation in 57 target provinces involving 747 cities and municipalities,” DA said.
The government has created the DA-led National Program Coordinating Team (NPCT) to ensure integration of RCEF program components and complementation with the National Rice Program.
The DA-NPCT has also finalized the protocol for updating the RSBSA. The initial validation shows 1.11 million unique farmers with 618,725 hectares in 48 out of 57 target provinces from the original version of the RSBSA.