Budget Secretary Amenah Pangandaman told senators that there is an allocation of P10 billion for the Rice Competitiveness Enhancement Fund (RCEF), and P1 billion for assistance to farmers and fisherfolk next year.

RCEF is intended to improve the productivity and competitiveness of local rice farmers and increase their income through the provision of farm machinery and equipment, rice seed development, propagation, and promotion, expanded rice credit assistance, and rice extension services.

Meanwhile, of the P1 billion assistance to farmers and fisherfolk, P 510.45 million is lodged under the budget of the Department of Agriculture for corn farmers, while P489.6 million, a part of the budget of the Bureau of Fisheries and Aquatic Resources, will be for fisherfolk.

“The FY 2023 budget for assistance in the agriculture sector is doubled from P 500 million this year. Of course, providing better support to our producers is vital in achieving food security which is one of the near-term goals of the administration,” the Budget Chief stated during the second day of the Development Budget Coordination Committee (DBCC) Senate briefing.

This is for the provision of fuel discounts to qualified farmers and fisherfolk who own and operate agricultural and fishery machinery individually or through a farmer organization, cooperative, or association. Since the assistance programs are with the specific condition of the Dubai crude oil reaching or being higher than $80 barrel for three months, the specific guidelines for its implementation are yet to be finalized.

When asked about the assurance of proper implementation of agriculture programs, Pangandaman replied: “With the new leadership of the Department of Agriculture, we believe they’d be able to disburse and absorb the levels that we have provided.” DBM Media