SEN. Francis Pangilinan yesterday underscored the need to review RA 11203 ,or the Rice Tariffication Law (RTL), due to its supposed failure bring down the price of rice.
Aside from reviewing the RTL, Pangilinan also wants the Senate to look into the regulatory and market intervention powers of the National Food Authority (NFA), which it lost following the enactment of the law in February 2019.
“There is a growing clamor from various sectors, including farmers’ groups and consumer advocates, for the re-evaluation of the NFA’s role and the possible restoration of its critical functions to enable the government to more effectively influence rice supply and price stability,” Pangilinan said in a statement.
He said strengthening the NFA and empowering it with renewed regulatory and market intervention capabilities could lead to a stable and more affordable rice supply for low-income families, a “robust buffer stock” to quickly respond to supply and shortages, and end profiteering, hoarding, and monopolistic activities by unscrupulous traders.
Pangilinan said the recent “price spikes, speculative activities, and structural weaknesses in the rice supply chain” have raised concerns that the market-oriented approach has not sufficiently protected consumers and farmers.
He also stressed the importance of instituting stronger safeguards to ensure transparency, accountability, and efficiency in any proposed reforms to the NFA’s mandate.
Pangilinan, whose election campaign was anchored on bringing down the prices of food and providing stable food supply, said the RTL must be amended since “it disallowed the NFA from releasing its overstock rice” which could help bring down its price in the market.
He said his proposed amendments to the law will decongest NFA warehouses and give farmers the chance to stock their rice harvest there.
The RTL was signed into law by former president Rodrigo Duterte on February 14, 2019. It replaced rice import quantitative restrictions (QRs) with tariffs.
