President Marcos signs a law allowing the declaration of a food security emergency when rice supplies run short.
Full story: https://www.rappler.com/philippines/marcos-allows-da-declare-rice-emergency-due-shortage-increased-prices/
Full story: https://www.rappler.com/philippines/marcos-allows-da-declare-rice-emergency-due-shortage-increased-prices/
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00:00President Ferdinand Marcos, Jr. signs a law allowing the Agriculture Department to declare a food security emergency
00:07when a rice supply shortage or extraordinary increase in prices happens.
00:11The law also allows the DEA to sell rice buffer stocks in areas hit by these crises
00:16and import rice when locally produced rice is not enough.
00:20It also extends the implementation of the Rice Competitiveness Enhancement Fund or RCEF up to 2031
00:26and increases annual allocation from 10 billion pesos to 30 billion pesos.
00:31The fund is created to support seed and mechanization programs for farmers
00:35and in the process, reduce prices and post-harvest losses.
00:38With these new responsibilities, the DEA is seen to have, quote,
00:42stricter oversight of the rice industry.