Philippines prioritises funds to rice farmers
The Philippine Department of Agriculture plans to distribute funds to rice farmers to boost 2025 palay output. The Rice Competitiveness Enhancement Fund has increased to 30bn pesos ($513mn), sourced from rice import tariffs. Funds will support farm mechanization, seeds, solar irrigation, and financial aid. The government aims to raise rice output to 20mn tonnes.
The Philippine Department of Agriculture (DA) has reiterated plans to distribute funds to rice farmers over the planting season following a meeting with President Ferdinand R. Marcos Jr on 13 January.
This is aimed at boosting the local palay (unhusked rice) output for 2025. The Rice Competitiveness Enhancement Fund has tripled to 30bn pesos ($513mn) in 2025 from previous levels of 10bn pesos ($171mn), sourced from tariffs collected on imported rice . This comes on the back of a revised Rice Tariffication law signed on 9 December to extend funding for the modernization of the rice industry.
Around 6bn pesos of the initial 10bn pesos will be allocated for farm mechanisation, with 4bn pesos for seeds. Other components to be funded include solar irrigation, diversification, and rice farmers’ financial assistance.
This will help farmers get agricultural support over the planting season, including the timely delivery of input seeds and fertilizers, which will ensure efficient planting and increase productivity, according to spokesperson from the Phillipine Department of Agriculture (DA) Arnel de Mesa.
The DA is anticipating an increase in unhusked rice production for 2025 and has raised output projections to 20mn t, higher than the 19.3mn t projected in late-2024.
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Source : Argus Media
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