Farmers who suffered heavy losses due to the sharp decline in palay buying prices will receive ₱10,000 each in government assistance.
President Ferdinand “Bongbong” Marcos Jr. made the announcement during his visit to the Union Water Impounding Dam in Claveria, Cagayan on Tuesday, October 14, where he met with farmers in the region.
Speaking before the farmers, the President acknowledged their struggles caused by the unfairly low prices offered by rice traders, prompting the government to roll out immediate financial support.
“Mayroon tayong pinaplano, tig-10,000, ‘yung mga nalugi dahil sa pagbagsak ng bilihan ng palay,” Marcos said.
He also emphasized that the government is implementing safeguard duties on rice imports to prevent the local market from collapsing and to protect Filipino farmers from further losses.