PRESIDENT Ferdinand “Bongbong” Marcos Jr. signed into law on Monday a measure extending the life of the Rice Competitiveness Enhancement Fund (RCEF) until 2031.
The law, which amends the Agricultural Tariffication Act, aims to bolster support for local rice farmers by increasing resources and funding for productivity-enhancing initiatives.
Senate President Francis “Chiz” Escudero lauded the enactment of Republic Act No. 120278, emphasizing that it will provide farmers with enhanced access to farm machinery, high-quality inbred certified seeds, and other critical interventions.
The RCEF, sourced from rice import tariffs, will now receive an annual allocation increase from P10 billion to P30 billion until 2031.
During the ceremonial signing, Marcos highlighted the fund’s impact on investing in high-quality seeds, mechanization, and farmer training, which have equipped farmers with the tools and skills to boost productivity.
“With the expiration of the original six-year plan for RCEF fast approaching, it became clear that we needed to extend and strengthen the program,” Marcos said. “This law not only extends the program but significantly increases its funding, enabling us to do much more for our farmers and make the rice industry even more competitive.”
The President also emphasized the law’s focus on reducing post-harvest losses, which could prevent up to 375,000 tons of milled rice from being wasted annually. This initiative could help feed an additional 3.4 million Filipinos each year, contributing to improved food security.
The expanded RCEF allocation will support new programs such as:
Soil health improvement
Pest and disease management
Solar-powered irrigation systems
Small water-impounding projects
Distribution of composting facilities for biodegradable waste
Additionally, during the event, Marcos also signed a measure allowing VAT refunds for non-resident tourists, a step seen as a boost to the tourism sector.