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House OKs bill on RTL amendments on 2nd reading

["https:\/\/radyonatin.com\/story.php\/49803","House OKs bill on RTL amendments on 2nd reading","RNNationwide"]
Photo from: PNA
MANILA – The House of Representatives on Tuesday approved on second reading the measure seeking amendments to the Rice Tariffication Law (RTL).
During the plenary session, the chamber approved through voice voting House Bill (HB) 10381, which seeks to restore the price stabilization and supply regulation functions of the National Food Authority (NFA).
The bill proposes that the Department of Agriculture (DA) Secretary, upon the recommendation of the National Price Coordinating Council (NPCC) or Local Price Coordinating Council (LPCC), may declare a food security emergency when there is a shortage in the supply of rice; sustained increase in the price of rice; or extraordinary increase in the price of rice.
When such cases occur, the NFA may use existing inventory, primarily intended for buffer stocking, to supply areas where price increases or supply shortages occur.
It also mandates the maintenance of sufficient buffer stock requirements sourced from local farmers' organizations and cooperatives.
If the buffer stock requirement is still not sufficient, the NFA is allowed to, in the following order: purchase local milled rice; purchase up to a maximum of 30 percent brought in by accredited importers at cost; and as a final recourse, once all domestic sources have been exhausted, directly import rice, subject to explicit authorization from the agriculture secretary.
The proposed measure authorizes the NFA to require registration of all grain warehouses and conduct inspections to ensure compliance with rice quality and supply standards.
Aside from empowering the NFA, the bill also proposes that the base amount of the Rice Competitive Enhancement Fund (RCEF) be increased from the current P10 billion to P15 billion.
The proposed measure authorizes the NFA to require registration of all grain warehouses and conduct inspections to ensure compliance with rice quality and supply standards.
Last week, President Ferdinand R. Marcos Jr. announced that he would certify as urgent the bill proposing to amend the RTL, citing the need for the government to have control over or influence the local rice market. (PNA)

Last Modified: 2024-May-16 08.00.00 UTC+0800