The Rice Tariffication Law has yet to meet its targets such as lowering production cost and the price of rice, according to a House leader on Thursday.House Assistant Minority Leader Mikaela Suansing of Nueva Ecija made this assessment in response to questions as to why the RTL has not met its goal of bringing down rice prices, even with added rice supply from rice imports.
“That is why we want to continue allot funding for the RCEF from an annual of P10 billion to P15 billion per year. We need more funding for the RCEF to achieve the targets we have set,” she said.Suansing also echoed Speaker Martin Romualdez' call to amend the RTL by reinstating the mandate of the National Food Authority to buy and sell rice at a cheaper price, saying that rice inflation or rate of price increase reaches an average annual figure of 24.4% and a 1% on a monthly basis.
Source: Law Daily Report (lawdailyreport.net)
Rice Competitiveness Enhancement Fund NFA
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