May 13, 2024
MANILA – The House of Representatives is scheduled to start its plenary debates on a bill amending the Rice Tariffication Law (RTL) — a measure geared at substantially reducing rice prices — this week, according to Speaker Martin Romualdez.
In a statement on Sunday, Romualdez said that the lower chamber aims to secure the bill’s approval on second reading by Wednesday (May 15).
“We recognize the urgency of addressing the challenges faced by consumers due to high rice prices. Through these plenary debates, we are taking decisive action to bring about meaningful change and ease the financial strain on Filipino households,” the lawmaker said.
He added that plenary debates for the RTL amendment bill will begin once sponsored by the agriculture and food committee, headed by Quezon 1st District Rep. Mark Enverga.
Enverga’s panel approved the substitute measure for House Bill (HB) Nos. 212, 405, 1562, 9030, 9547, and in consideration of House Resolution (HR) No. 1614 last Tuesday. The committee approval came a day after President Ferdinand Marcos Jr. revealed his plan to certify the bill as urgent.
Romualdez disclosed that their goal is to amend RTL by July “to lower rice prices to less than P30” since its rice price ranges from P40 to P45 and sometimes exceeds P50.
“By amending the RTL, we aim to bring about tangible reductions in rice prices, ensuring Filipino consumers are not unduly burdened by high food costs. Lowering rice prices to less than P30 is a crucial step towards ensuring food security and economic stability for all,” the lawmaker said.
According to the House leader, the substitute bill seeks to restore the National Food Authority’s (NFA) role in managing the country’s rice supply chain under the proposed amended RTL.
“Key to the measure is maintaining a rice buffer stock, empowering the NFA to buy local milled rice as needed. In cases of insufficient domestic supply, the NFA can procure rice from accredited importers at a set percentage of CIF (cost, insurance, and freight) landed price,” his statement said.
It added that the agency may directly import rice “with explicit authorization from the President solely to stabilize the national rice supply.”
Aside from NFA, the bill also strengthens the Bureau of Plant Industry to ensure warehouse compliance with sanitary and phytosanitary standards.