Manila: President Ferdinand R. Marcos Jr. announced that the government is set to decrease subsidies for the "Benteng Bigas Meron (BBM) Na!" program as domestic rice production improves due to recent agricultural reforms.

According to Philippines News Agency, Marcos emphasized in the third episode of the BBM Podcast that aired on Wednesday, that as rice production continues to enhance, the financial support for the flagship affordable rice program will progressively lessen. Marcos noted that the government's subsidy approach has now reached a sustainable level, allowing the administration to manage the program effectively.

The BBM Na initiative, a key aspect of Marcos' administration, offers rice at PHP20 per kilo to assist impoverished and vulnerable communities. Despite the anticipated reduction in overall subsidies, Marcos assured that the program's reach would expand, benefiting more Filipinos in the process.

The President attributed the rise in rice production to reforms implemented over the past three years, which include lowering the cost of farming inputs, increasing the distribution of equipment, and intensifying actions against smuggling and hoarding. He highlighted the improved support for farmers, such as the provision of machinery and expedited issuance of land titles under agrarian reform, as significant factors in boosting rice production.

Reflecting on the progress made since the administration took office, Marcos stated that none of these measures were in place initially, but concerted efforts over the last three years have developed the necessary capabilities. The administration remains committed to enhancing food security and reducing rice prices as an integral part of its broader anti-poverty strategy.