Philippines : Rice tariffs to rise to 20% on Jan 16 as import ban ends
The Philippines will raise rice import tariffs from 15% to 20% starting January 16, with a two-week window to use the lower rate. The DA expects 500,000 tons of imports after the ban ends. Farmer groups are contesting EO 105, arguing it bypasses required consultations and hearings.
The Philippines will raise rice tariffs to 20 percent from 15 percent starting Jan. 16, Agriculture Secretary Francisco Tiu Laurel Jr. said.
Importers will still have a two-week window to lock in the lower 15 percent rate, even as the rice import ban ends on Dec. 31.
“Tariff changes can only be done by Congress, or by Malacañang when Congress is not in session,” Tiu Laurel said, noting that Congress remains in session to ratify the budget. “We have to complete the process before raising the tariff.”
For now, the maximum suggested retail price (MSRP) for imported rice will stay at P43 per kilo. Any adjustment will be made once the higher tariffs take effect.
The Department of Agriculture expects about 500,000 tons of imported rice to arrive once the ban is lifted, including 50,000 tons from Food Terminal Inc.
The agency said it will promptly inform exporters and traders of any MSRP changes to curb speculation, keeping January prices steady while the tariff adjustment is finalized.
Meanwhile, the Federation of Free Farmers and Magsasaka Partylist are challenging Executive Order No. 105, which underpins the tariff hike, arguing it removes required public hearings and investigations and scraps consultations with farmers and other stakeholders.
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Source : Bilyonaryo
