Philippines: Amended Rice Tariffication Law Signed Extending Rice Competitiveness Enhancement Fund to 2031

  |   Attaché Report (GAIN)   |   RP2024-0047

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Philippines: Amended Rice Tariffication Law Signed Extending Rice Competitiveness Enhancement Fund to 2031(link is external)
Philippine President Ferdinand Marcos Jr. signed Republic Act (R.A.) No. 12078 on December 9, 2024, which extended the implementation of the Rice Competitiveness Enhancement Fund (RCEF) until 2031. The amendment increased the annual RCEF budget from Php 10 to 30 billion (Bn), providing funding for rice industry supporting programs. The law, likewise, provides that the Philippines Department of Agriculture (DA) may import rice during a food security emergency related to rice due to a supply shortage, or an extraordinary increase in prices, provided that the available supply of locally produced rice is inadequate.
East Asia and the Pacific, Philippines
Grains, Feeds and Fodders, Rice

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