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Futures and Commodity Market News |
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Fri May 16, 2008 |
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Breaking financial news 24/7 courtesy of TradingCharts.com Inc. / TFC Commodity Charts |
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MANILA, May 10, 2008 (Asia Pulse Data Source via COMTEX) -- In an effort to enhance the countrys food security, some lawmakers have called for the creation of a cereal institute which will conduct continuous research, development and extensive activities for prime agricultural products such as rice, corn and wheat. Reps. Pryde Henry A. Teves, Jocelyn S. Limkaichong and George P. Arnaiz said the proposed establishment of Philippine Cereals Research Development and Extension Institute (PhilCereal) as embodied in House 3737 would provide big boost to the countrys cereal industry in the light of the global food problem. The lawmakers said the country has fertile lands which can sufficiently produce agricultural products for the food supply of the Filipino people. Unfortunately, this expectation is not realized for a very long time already. There is always a danger in our food security and supply of food products that necessitates us to import these products from other countries, Arnaiz said. The three lawmakers expressed belief that it is only through the creation of PhilCereal can the cereal industry gets support from the government. Arnaiz said among the cereals, which also include corn, wheat, sorghum and millet, only rice receives support from the government through the Philippine Rice Research Institute (PhilRice). The other cereals also need help and support from the government in terms of research, development and extension activities, not to mention that the appropriation for PhilRice alone is clearly inadequate to support this major food industry, he said. Arnaiz said PhilRice has extended priceless benefits to small farmers and local government units, but the financial support by the government to this institution through appropriation, greatly decreased. He cited that from P193 million in 1997, the annual budget of PhilRice plummeted to P162 million in 2007. The decrease in appropriation was a result of government policy in 1997 reducing support to government-owned and controlled corporation by 10 percent, he explained. By this, we can see that the financial condition of PhilRice is discouraging.. made even worse by the increasing volume of importation of corn, wheat and other cereals, and without a positive measure from the legislature it is possible that the cereal industry will become a dead industry and this will be a big blow to our economy, he said. Under the proposed measure, PhilCereal, which will have a minimum annual operating subsidy of P200 million, shall be under the supervision of the Department of Agriculture which will fully work on research, development and extension activities for cereals in the country. The bill also authorizes the PhilCereal to collect a certain percentage of the Agricultural Competitiveness Enhancement Fund (ACEF) to finance its objectives. (PNA)<br>LDV/ZST |
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