Senator Cynthia Villar on Monday expressed optimism that the Philippines will enjoy "long-term" rice stability following the enactment of a measure amending the Rice Tariffication Law (RTL).

Villar, who chairs the Senate Committee on Agriculture, Food and Agrarian Reform, thanked President Ferdinand "Bongbong" Marcos Jr. for signing Republic Act (RA) 12078, or the Agricultural Tariffication Act, saying it protects local rice producers.

She stressed that the newly enacted law addresses the concerns of rice industry stakeholders.

“I am very happy that the President signed the law, which extends the life of the RTL. This is an early Christmas gift for our farmers and cooperative associations, as it expands the scope and benefits due to them in the Rice Competitiveness Enhancement Fund (RCEF),” said Villar, who primarily sponsored the RCEF Extension Law.

Enacted in 2019, the RTL lifted quantitative restrictions on rice and introduced tariffs to guarantee the protection of Filipino rice producers.

The RTL ensures that farmers can directly benefit from the liberalization of rice trading by providing P10 billion a year to the RCEF until 2024.

Meanwhile, the newly signed law extends the life of the RCEF, which is sourced from the tariffs collected from the importation of rice, until 2031.

This also includes increasing the annual allotment of the RCEF to P30 billion until 2031.

“This is a leap towards ensuring the long-term stability of the rice sector,” Villar said.

She noted the government’s continued support for farmers by providing them with much-needed machinery, high-quality seeds, credit assistance, additional irrigation programs, and essential training to make their yields more productive.

The senator also noted that the law addresses the rice supply shortage and the extraordinary price surge of the food staple.

She mentioned a provision in the amended law that empowers the Department of Agriculture (DA) chief to respond to a declaration of rice food shortage and an extraordinary increase in rice prices.

The DA can sell rice through government agencies such as hospitals and jails and KADIWA outlets, replenishing stocks through procurement of locally produced rice from farmers and farmer cooperatives.

RA 12078 also authorizes the DA Secretary to designate importing entities, except for the National Food Authority, to import rice to supplement the supply and stabilize prices.

Villar described the approval of the RCEF extension as "a resounding victory for the many farming stakeholders and farmer groups who have requested for the law to be extended with amendments."

“We are planting the seeds to a fruitful and productive future not only for our farmers but also for our beloved nation,” she added.