Marcos allows DA to declare rice emergency due to shortage, price spikes

rapplerdotcom

President Marcos signs a law allowing the declaration of a food security emergency when rice supplies run short.  Full story: https://www.rappler.com/philippines/marcos-allows-da-declare-rice-emergency-due-shortage-increased-prices/

Transcript

00:00President Ferdinand Marcos, Jr. signs a law allowing the Agriculture Department to declare a food security emergency

00:07when a rice supply shortage or extraordinary increase in prices happens.

00:11The law also allows the DEA to sell rice buffer stocks in areas hit by these crises

00:16and import rice when locally produced rice is not enough.

00:20It also extends the implementation of the Rice Competitiveness Enhancement Fund or RCEF up to 2031

00:26and increases annual allocation from 10 billion pesos to 30 billion pesos.

00:31The fund is created to support seed and mechanization programs for farmers

00:35and in the process, reduce prices and post-harvest losses.

00:38With these new responsibilities, the DEA is seen to have, quote,

00:42stricter oversight of the rice industry.

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