The RCEP has four key components: 1.) Rice farm mechanization; 2.) Inbred rice seed development, propagation, and promotion; 3.) Expanded rice credit assistance; and 4) rice extension services. RICE COMPETITIVENESS ENHANCEMENT FUND. SEED /MECHANIZATION /CREDIT | EXTENSION. The Republic Act No. 11203 otherwise known as the “Rice Tariffication Law” was promulgated to ensure food security and to make the country’s agriculture sector viable, efficient, and globally competitive. We are positive that our farmers will produce more good and climate-adaptive rice.