Philippines Agriculture Chief Wants Rice Tariff Cut Shortened
Philippine Agriculture Secretary Francisco Tiu Laurel suggests a temporary cut in rice import tariffs to 15% for six months to a year, aiming to minimize farmer impact. He plans to discuss this proposal with President Ferdinand Marcos Jr.’s Cabinet to address the country’s rice import policy.
The Philippines, one of the world’s top rice buyers, should cut tariffs on imports of the grain for only a year at most instead of up to 2028 to limit the impact on farmers, according to Agriculture Secretary Francisco Tiu Laurel.
“I believe a short-term reduction in tariff to 15% is good enough…Maybe for only six months to one year,” Laurel told reporters on Wednesday. He said he’ll discuss his proposal with the rest of President Ferdinand Marcos Jr.’s Cabinet.
Source Link: https://www.bloomberg.com/news/articles/2024-06-19/philippines-agriculture-chief-wants-rice-tariff-cut-shortened
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