Global Trade Alert

On 20 September 2011, the Department of Social Welfare and Development announced in a press release that it has allocated Philippine Peso 2.86 billion (ca. USD 68 million) for Rice Subsidy Program for Small-Scale Farmers and Fisherfolks. The total budget of the program is Philippine Peso 4.2 billion (ca. USD 91 million). The program covers a total 1.57 million beneficiaries and was commenced in May 2011. The short-term subsidy programme phased out by the end of September.
 
These subsidies will assist farmers and fishermen coping with increased costs on commodities and fuel. Hereto the program offered financial assistance in return for beneficiaries completing a "four-day training and rendering community service".
 
In this context the press release stated: "50 percent of the cash assistance will be used to buy food or rice in the market to boost the economy in the area."
The press release does not state the exact implementation date.