Import goals of Rice Tariffication Law. Sen. Cynthia Villar, during the period of interpellation on Senate Bill No. 2779, otherwise known as Amending Agricultural Tariffication Act, explains that the National Food Authority's (NFA) budget for buffer stocking is limited, which is why they restrict buffer stock levels to 15 and 30 days.
She said that before the liberalization of rice imports, the NFA controlled imports but this approach failed to solve the issue.
The senator pointed out that rice imports currently account for only 15 percent and if the country would meet its production target, it would stop importing rice, which would align with the goals of the Rice Tariffication Law and the Rice Competitiveness and Enhancement Fund (RCEF). Villar stressed that the NFA is only authorized to buy from local farmers. "We are here to help the local rice farmers. We are not here to help the importers," she said Wednesday, August 21, 2024. (Senate Public Relations and Information Bureau)
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