Higher tariff collections boost fund for rice farmers to P34 B

Rice farmers will receive over P34 billion in support under the government's rice competitiveness enhancement fund (RCEF) this year as tariff collections last year surged to a record high.

- By JASPER EMMANUEL ARCALAS

Department of Agriculture Assistant Secretary Arnel de Mesa said the Bureau of Customs (BOC) has certified P34.23 billion in rice tariff collections last year, about 14 percent higher than the P29.93 billion collected in 2023.

Under existing laws, the BOC must certify the total rice tariff collections in the preceding calendar year, which will form part of the RCEF, an earmarked fund aimed at developing the domestic rice industry's competitiveness.

With the amendment of the rice tariffication law (RTL), P15 billion of the total rice tariffs collected last year will be used to finance the distribution of inbred seeds (P6 billion) and bankroll the farm mechanization program (P9 billion).