In the Philippines, Solon wants to expedite release of rice funds to boost production

MANILA – A lawmaker on Tuesday said expediting the release of the Rice Competitiveness Enhancement Fund (RCEF) to boost domestic production could help mitigate risks from higher rice prices abroad. Albay Representative Joey Salceda said this is a necessary government intervention to ease food prices as the inflation rate slightly decelerated in September 2021. "I welcome certain aspects of the September inflation report, with the caveat that the decline in prices for certain goods can go faster," he said. He urged the implementing agencies of the RCEF to sustain the implementation of its programs and accelerate the completion of backlogs from the mechanization component to improve farm yields. "Earlier this year, I already warned about a potential increase in world rice price due to supply pressures in Vietnam, our leading supplier," he said. He said as rice bran is also a key component of livestock feed, improved domestic rice production will also have positive impacts on the ...