QUARTERLY REVIEW. Agriculture Assistant Secretary Arnel de Mesa says the inclusion of a quarterly review on the tariff for imported rice will be beneficial to farmers during an ambush interview on Friday (June 21, 2024). He said the review is needed to implement tariff adjustments whenever necessary, as compared to a fixed 15 percent until 2028. (PNA photo by Ben Briones)
MANILA – The Department of Agriculture (DA) on Friday welcomed the inclusion of a quarterly tariff review under the approved tariff cut on imported rice.
This came after President Ferdinand R. Marcos Jr. issued Executive Order (EO) No. 62, modifying the import duty rates of agricultural and other commodities, including the reduction of tariffs on imported rice from 35 percent to 15 percent.
In an ambush interview, DA Assistant Secretary Arnel de Mesa said Agriculture Secretary Francisco Tiu Laurel Jr. has lobbied for the inclusion of a quarterly review, instead of a fixed tariff reduction until 2028.
Laurel earlier said he will discuss with President Marcos issues concerning the planned tariff reduction as it may affect farmers if implemented over a long period.
De Mesa said a regular review is beneficial to farmers as various factors –such as lower prices in the world market or an increase in local production– may affect rice prices.
“There could be several factors na kinakailangan as input doon sa review para makita natin kung kailangan magkaroon ng adjustments sa tariff (that are needed as input in the review to see if there’s a need for tariff adjustments),” he said.
Besides quarterly review, the DA vowed to strengthen support to farmers through an additional budget for farm inputs like seedlings, fertilizers, irrigation, and machinery, alongside the higher buying price scheme of the National Food Authority (NFA).
The NFA currently buys fresh or wet palay from local farmers at a price ranging from PHP17 per kilogram to PHP23/kg.; and clean or dry palay at PHP23/kg. to PHP30/kg.
De Mesa said the public may benefit from lower prices of retail rice by August, as EO 62 will take effect 15 days after its publication.
The Philippine Statistics Authority (PSA) earlier said the retail prices of rice in local markets may drop by PHP6/kg. to PHP7/kg due to reduced tariff.
“Kung July 6 siya effective, syempre mag-oorder pa sila. So, again kung galing ng Southeast Asia, normally pinakamabilis na niyan three weeks to four weeks bago makarating sa atin (If that will be effective on July 6, of course they will still order. So, again if it is coming from Southeast Asia, normally, the fastest would be three to four weeks),” de Mesa said. (PNA)
