THE Department of Agriculture (DA) has increased to P7,000 from the previous P5,000 the amount of cash assistance to farmer-beneficiaries of the Rice Competitiveness Enhancement Fund (RCEF).
The RCEF or Rice Fund was created under the Rice Tariffication Law (RTL), with an annual appropriation of P10 billion for rice farm machinery and equipment, rice seed development, and expanded rice assistance. The additional cash assistance will increase the funding to P17.6 billion, which will be sourced from excess annual tariff revenues from rice importation.
