President-elect Bongbong Marcos wants to increase the P10-billion Rice Competitiveness Enhancement Fund , which is a key component of Republic Act No. 11203 or the Rice Tariffication Law .This, as Marcos prepares to face a looming food crisis that would undoubtedly test his administration’s resolve once he officially takes over Malacañang on June 30, 2022.
“Maybe we can have a look at that and see maybe that now that we are in a situation where we very much have to boost production and we very much have to support the farmers. Maybe we can look at that and hopefully increase it,” the incoming leader said. The RTL wasn’t very popular upon its enactment–and it still isn’t in some quarters. Critics branded it the “rice import liberalization law,” since it basically opened the local market to cheaper, imported rice.
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