ABOUT one million rice farmers are set to receive P7,000 each in cash assistance next year, House Speaker Faustino Dy III announced Monday.
During a joint hearing of the House Committees on Agriculture and Food and Ways and Means, Dy said the aid aims to help farmers cope with losses caused by the continued drop in palay prices.
“The cash aid shows President Marcos’ determination to immediately address the struggles of our farmers while pushing for long-term agricultural reforms,” Dy said.
He added that he had asked the President to convert all forms of subsidies from the Department of Agriculture, including seed aid, into direct cash assistance “to ensure that farmers benefit faster and more efficiently.
The Speaker said the move is in line with Executive Order No. 93, which suspended rice importation to protect local farmers from oversupply that could further drag palay prices down.
Dy noted that in his home province of Isabela, farmgate prices of palay have dropped to as low as P8 per kilo, far below the P16 to P18 per kilo needed for farmers to recover their costs.
“When farmers are forced to sell at a loss, it’s not only their livelihood at risk but also the country’s food security,” he warned, adding that the House will prioritize measures to boost local rice production in the coming months.
