MANILA: The Philippines said it will provide 12.7 billion pesos (US$224 million) in financial assistance to about 2.3 million rice farmers to help them cope with El Nino and higher production costs.
Rice farmers tilling below two hectares of land will receive 5,000 pesos each, President Ferdinand Marcos’s communications office said in a statement. The fund will be sourced from the excess tariff collection from rice imports in 2022, it said.
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