Rice farmers to get P5,000 from gov’t starting Dec. 23

Farmers affected the most by low palay prices due to the Rice Tariffication Law can expect a P5,000 cash grant by next week, the Department of Agriculture said Monday.

The government, through the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP) will start releasing the cash grant through the Rice Farmer Financial Assistance (RFFA) Program on December 23, Agriculture Secretary William Dar said in a press conference in Manila City.

“To ensure that we efficiently do it, we meticulously crafted a guideline in selecting the first 33 rice-producing provinces and qualified farmers as beneficiaries,” he said.

“We conducted a comparative price analysis and considered the average marketable surplus and profit gains and losses in those provinces,” Dar added.

The guidelines were signed by officials of the DA, LandBank, and DBP in Manila City on Monday.

Dar said Pangasinan and Nueva Ecija are the priority areas as farmers there were the hardest hit by low palay prices after the law was enacted earlier this year. The government has identified 33 rice-producing areas that will be covered under the initial rollout of the program.

The Rice Tariffication Law was signed by President Rodrigo Duterte in February. The law removed the quantitative restrictions on rice imports and imposed a 35% tariff on imports from Southeast Asia.

It mandated a P10-billion Rice Competitive Enhancement Fund, which includes P5 billion for farm mechanization, and P3 billion for seedlings procurement, to ensure that rice imports won’t drown out the agriculture sector and rob farmers of their livelihood.

“Unahin natin itong badly affected areas. We will have it relooked whether the same provinces (will be given cash assistance in the next batch),” said Dar.

This year, Dar said the program will be financed by the national government’s excess revenue.

“We understand the plight of our rice farmers, particularly the marginal ones who are experiencing the challenge of a liberalized rice trade,” said Dar.

“The RFFA is one way to help them cope with the rough competition they are facing in the market today,” he added.

LandBank and the DBP will each disburse P1.5 billion to 300,000 farmers nationwide.

“LandBank remains steadfast in fulfilling its mandate to our farmers. Together with the DA and DBP, we are committed to strengthening our partnership to provide as much financial support as we can to ease the challenges our farmers are currently experiencing,” said LandBank President Cecilia Borromeo. —VDS, GMA News