The Senate is now open to amending Republic Act 11203, or the Rice Tariffication Law (RTL), in response to the rising rice prices which have hit P60 per kilo, Speaker Martin Romualdez said Thursday.

Romualdez announced the development after a meeting on Thursday with the new Senate leadership, including Senate President Francis “Chiz” Escudero.

Escudero took over the Senate’s top post following the ouster of former Senate President Juan Miguel Zubiri in mid-May.

“Together we are committed to working hand-in-hand to pass key legislation that will significantly benefit the Filipino people,” Romualdez said.

“Amending the Rice Tariffication Law is a crucial step towards ensuring food security and economic stability for our farmers,” he added.

Romualdez assured that both the House and the Senate are united in making quality rice affordable to all Filipinos while boosting the livelihood of local farmers.

Last month, the House of Representatives passed House Bill 10381, which seeks to revise Republic Act 8178, the Agricultural Tariffication Act, previously amended by the RTL. This move came despite strong opposition from many senators.

Senator Cynthia Villar, chairperson of the Senate Committee on Food and Agriculture, said that most senators were opposed to reinstating the National Food Authority’s (NFA) regulatory and import licensing functions, citing its past corruption issues.

Reviving the NFA’s import powers is a key provision of the House-approved measure. House leaders believe that allowing the NFA to re-enter the domestic rice market would foster competition with commercial traders, potentially lowering rice prices.

Before the RTL’s enactment in February 2019, affordable NFA rice was sold at P27 per kilo.

The law, passed during the Duterte administration, abolished the NFA’s regulatory powers over the rice sector, including its ability to license market players, inspect warehouses, and monitor stock movements, while liberalizing rice importation.

The RTL limited the NFA’s role to merely maintaining a buffer stock of palay (unmilled rice) primarily for distribution during calamities.

The House leadership is determined to amend the RTL, arguing that its goal of driving down rice prices through increased competition among traders has not been achieved.

Romualdez previously stated that the proposed amendments could reduce rice prices by at least P10 to P15 per kilo, bringing prices closer to P30 per kilo.

In addition to seeking amendments to the RTL, the government has reduced tariffs on rice imports from 35 percent to 15 percent, a measure intended to lower rice prices. The tariff reduction is set to last until 2028.

However, farmers’ groups have expressed strong objections, fearing that the market will be inundated with cheaper imported rice. The influx could force local farmers to sell their produce at lower prices in order to compete with foreign suppliers. Rice farmers are projected to lose approximately P43 billion due to these changes.