AreaPhilippines

Commodity GroupRice

CommodityAll

Date21/11/2019

Policy CategoryProduction

Policy InstrumentProduction support, government procurement, stock-holding policy

DescriptionInstructed the National Food Authority to step up local purchases of paddy so as to increase buffer stocks of milled rice from 15 to 30 days\' worth of consumption and to raise its daily milled rice releases to at least an average 1 000 tonnes. In addition, PHP 3 billion (USD 59 million) were to be set aside to extend the implementation of the Rice Farmer Financial Assistance (RFFA) programme into 2020, in order to help farmers cope with declines in paddy prices. The RFFA was first launched in 2019 and provides a PHP 5 000 (USD 99) cash assistance to 600 000 rice producers.

NotesExchange rate as of 15 May 2020.