Photo credit: Senate PH

Senator Cynthia A. Villar, Chairperson of the Committee on Agriculture, Food, and Agrarian Reform, led a public hearing on Thursday, July 4, 2024, to discuss proposed amendments to the Rice Tariffication Law (RTL), also known as Republic Act No. 11203.

During the hearing, Senator Villar emphasized the significance of the RTL, which deregulated the rice industry by removing the National Food Authority's authority to trade in rice, thereby fostering a more competitive market environment. She highlighted the positive impact of the Rice Competitiveness Enhancement Program (RCEP), which has received support from various farmers' groups.

Several resolutions submitted by these groups expressed gratitude for the RCEP's initiatives and voiced strong support for extending the RTL. Under the current law, tariffs collected from private rice importers are allocated to the RCEP, with a specific allocation of P10 billion earmarked for mechanization and agricultural support.

Senator Villar underscored the importance of these funds in enhancing mechanization and providing crucial agricultural inputs to improve the sector's competitiveness and sustainability.