PRESIDENT Ferdinand Marcos Jr. assured farmers that they will continue to benefit from the Rice Competitiveness Enhancement Fund (RCEF) despite the tariff cut.
The President said the government’s decision to lower the tariff on imported rice from 35 percent to 15 percent is a measure aimed at enhancing the capabilities and livelihoods of farmers, strengthening the economy, and promoting a more prosperous life. Additionally, this move ensures the country has an adequate food supply.
Under RCEF, funds are allocated for free machinery, seeds, fertilizers, and financial assistance for farmers.
Marcos stressed that the RCEF will remain intact and continue to support farmers through these benefits.
National Economic and Development Authority (NEDA) stated that a 15 percent tariff is still sufficient to fund the RCEF. (GP)
