What's Happening?
The House of Representatives has approved an increase in the agriculture sector's budget to P292.9 billion for the 2026 fiscal year. This decision, led by the House Committee on Appropriations chairperson
Rep. Mikaela Angela Suansing, reflects a commitment to enhancing food security and rural development. The budget includes an additional P53.8 billion for the agriculture cluster, with P10 billion allocated for the Presidential Assistance for Farmers and Fisherfolk, benefiting approximately 1.43 million individuals. Furthermore, P35.5 billion is designated for the construction and rehabilitation of farm-to-market roads and irrigation systems, totaling P74.5 billion. The Rice Competitiveness Enhancement Fund (RCEF) will receive P30 billion for farm mechanization and other production inputs. Additional allocations include P1 billion for crop insurance, P2.4 billion for deep-water port construction, and P200 million for the New Agrarian Emancipation Act.
Why It's Important?
The increased budget for agriculture is crucial for supporting the livelihoods of farmers and fisherfolk, who are vital to the country's food supply chain. By reducing input costs and improving infrastructure, the budget aims to enhance productivity and market access, ultimately boosting the agricultural sector's resilience. This move is expected to lower production costs and increase yields, directly impacting the income of those in the agriculture industry. The focus on infrastructure, such as roads and irrigation, will facilitate better logistics and distribution, which is essential for rural development and economic growth. The budget also addresses risk management through crop insurance, providing a safety net for farmers against potential losses.
