DBM releases P2.5-B RCEF

The fund will be used for the Rice Competitiveness Enhancement Fund-Credit Program which will administer loans to farmers and DA-accredited cooperatives and associations.

RCEF was created to help local farmers become more competitive in a free trade regime.

The Department of Budget and Management (DBM), through the Agricultural Credit Policy Council, has released P2.462 billion to bankroll programs under the Rice Competitiveness Enhancement Fund (RCEF).

This was announced over the weekend by the Department of Agriculture (DA), which confirmed that the DBM has already released P244 million to the Development Bank of the Philippines (DBP) and P180 million to the Land Bank of the Philippines (LandBank).

The fund will be used for the Rice Competitiveness Enhancement Fund (RCEF)-Credit Program which will administer loans to farmers and DA-accredited cooperatives and associations.

For the RCEF-Seed Program, the DBM released P2.038 billion to the Philippine Rice Research Institute (PhilRice) to promote, acquire, and distribute location-specific seed varieties in the regions.

RCEF, a program created following the passage of Republic Act 11203 or the Rice Tariffication Law (RTL), aims to help local farmers become more competitive in a free trade regime.

According to DA Secretary William Dar, funds for the mechanization and extension services programs will also be available soon following the DBM’s issuance of the Special Allotment Release Order to DA-Philippine Center for Postharvest Development and Mechanization, DA-Agricultural Training Institute, and Technical Skills Development Authority.

These form part of the P10 billion fund allocated for RCEF in 2019.

Dar also confirmed that the seed distribution, as mandated by the law, will begin next month. It will cover 57 provinces, with a total area of more than one million hectares.

PhilRice Deputy Executive Director and RCEF Program Director Dr. Flordeliza H. Bordey said about two million 20-kilogram bags of certified inbred seeds will be given to qualified farmers.

“We are targeting to distribute more than two million bags at 20kg/bag certified seeds this year. It roughly translates to planting around a million hectares of rice land. We expect to distribute more next season,” Bordey said.

Following the release of its guidelines submitted 59 days before the deadline, Bordey said that the program will provide high-quality inbred rice seeds to farmers.

It is likewise projected to improve rice yield up to six tons per hectare in high-yielding provinces by 2024.

Border clarified that only farmers who are enlisted in the Registry System for Basic Sectors in Agriculture will be provided with a maximum of 80kg of certified inbred rice seeds for two consecutive seasons depending on the size of their arm.

Dar, meanwhile, has instructed the implementing agencies to fast-track the rollout of RCEF assistance to rice farmers.