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Wednesday, June 19, 2024

Marcos trusts modified Rice Tariffication Law to regulate rice prices

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President Ferdinand Marcos stressed that the Rice Tariffication Law (RTL) would regulate the surging rice prices, citing the need to allow the National Food Authority (NFA) to import rice.

Speaking on Friday, President Marcos highlighted the importance of modifying the RTL to benefit farmers and consumers by stabilizing market prices.

“If Congress permits the NFA to import, it will help stabilize rice prices, fulfilling its original mandate,” he said.

The President noted that amending the RTL is part of broader government initiatives to support Filipino farmers facing various challenges.

These remarks were made during the distribution of Certificates of Land Ownership Award (CLOAs) and e-titles to farmers at the South Cotabato Gymnasium and Cultural Center.

In addition to RTL amendments, President Marcos highlighted other agriculture-related initiatives such as exploring weather-resistant crop varieties and providing machinery through the Philippine Center for Postharvest Development and Mechanization (PhilMech) to enhance agricultural productivity.

The President said infrastructure improvements such as fixing ports and farm-to-market roads are underway to facilitate better transport of agricultural products.

According to the President, the government is also enhancing the agricultural value chain by strengthening production and offering market intelligence and technical information.

Further support includes providing fertilizers and pesticides to boost output and financial assistance programs like Assistance to Individuals in Crisis Situation (AICS) during the typhoon season to aid affected farmers.

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