Metro Manila (CNN Philippines, December 8) – Senators unanimously approved on final reading on Monday a bill that will provide more financial assistance to farmers.
The proposed Senate Bill No. 1927 or the Cash Assistance for Filipino Farmers Act of 2020 compels the Department of Agriculture (DA) to use excess revenues from the ₱10 billion Rice Competitiveness Enhancement Fund (RCEF) in giving cash aid to farmers.
The RCEF, institutionalized through Republic Act No. 11203 or the Rice Tariffication Law, seeks to improve the Filipino rice farmers’ competitiveness and income in the wake of the local rice trade policy’s liberalization.
The Bureau of Customs is mandated by the measure to remit the excess funds to DA.
The bill also states that only farmers who own one hectare or less of rice land are eligible to receive the financial aid.
Last November, the DA and the Development Bank of the Philippines signed a memorandum of agreement to distribute ₱5,000 cash assistance for almost 900,000 farmers affected by the COVID-19 pandemic. Each farmer-beneficiaries are slated to receive ₱3,000 in cash and ₱2,000 worth of food items.
The Bayanihan to Recover As One Act or the Bayanihan 2 Law allocated ₱24 billion to the DA for direct cash assistance and low-interest rate subsidies to qualified farmers, fisherfolk, and agri-fishery enterprises.
