MANILA (Philippines Daily Inquirer/ANN): President Ferdinand “Bongbong” Marcos Jr has rdered the Department of Agriculture (DA) to utilize the excess Rice Competitiveness Enhancement Fund (RCEF) fund to help farmers.
Marcos issued the directive during his recent meeting with the DA, the Presidential Communications Office said in a statement released on Sunday.
He cited that the remaining money from the P10 billion RCEF must be used to provide drying, mechanization, and other equipment that will support rice farmers and help sustain their productivity.
On Wednesday (Oct 4) Marcos lifted the implementation of the price caps on rice after almost a month since the government imposed the policy to support poor households.
Marcos, who is also agriculture secretary, said the Philippines – among the world's largest rice importers – has adequate rice supply.
Despite this, the top official said that the work to improve the agricultural sector and assistance to farmers and the poor will still persist.
The President had imposed the price caps, effective early in September, as the rising cost of the national staple resulted in higher inflation. The price ceilings were meant to protect consumers. - Philippines Daily Inquirer/ANN
