The policy note, Completing the Reforms in the Rice Industry, first presents the background of the issues and developments leading to the adoption and implementation of the Rice Tariffication Law (RTL). The next section reviews and summarizes the benefits and costs of the RTL in its early implementation. It argues that the benefits outweigh the costs for society. And even though the costs for rice farmers are greater, the losses, as portrayed by those opposing RTL, are exaggerated. In the longer run, the RTL and its enabling environment are expected to improve the productivity and competitiveness of rice farmers. This leads the paper to a discussion of new challenges and issues, including the implementation of strategies and programs and the use of resources that RTL provides. The paper ends with ways forward.

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