Gov’t creates P20-B fund for livestock, poultry sectors

President Marcos signed a law that aims to revitalize and modernize the local livestock and poultry industries through an annual P20-billion earmarked fund that will provide farmers with necessary support and interventions.

- By JASPER EMMANUEL ARCALAS

Marcos signed Republic Act (RA) 12308 or the Animal Industry Development and Competitiveness Act on Sept. 25, just three days before it would have lapsed into law.

The Department of Agriculture (DA) and various industry groups welcomed the enactment into law of the landmark measure that was four years in the making.

The new law establishes a 10-year earmarked fund called the Animal Competitiveness Enhancement Fund (AnCEF) that will have a yearly appropriation of P20 billion, bankrolled by the tariffs collected from imported animal products from meat to milk.