President Ferdinand R. Marcos Jr. signs Republic Act 12078, which amends Republic Act 11203 (Rice Tariffication Law), extending the Rice Competitiveness Enhancement Fund to 2031. The amended law also increases annual allocation for RCEF, also referred to as Rice Fund, to P30 billion from P10 billion to bolster support for initiatives such as high-quality seed production, farm mechanization, training and extension, improving soil health, pest and disease management, and water management. RCEF are duties collected from imported rice.

Agriculture Secretary Francisco P. Tiu Laurel Jr. expressed gratitude to Congress for extending RCEF, which was set to expire this year. He stressed that the new law is an investment not only in agriculture but also in the nation’s economic future.

Under the new law, P30 billion will be allocated annually for RCEF. Of this, P6 billion will go towards providing high-quality rice seeds, P9 billion for farm mechanization, and P15 billion will be alloted for extension and training programs, rice farmers financial assistance, credit , soil improvement, solar-powered irrigation systems, and water impounding projects. ### (photos by Jay Morales, DA-OSEC)