Duterte approves lower tariffs on imported rice, pork

President Rodrigo Duterte approved the recommendation to reduce the Most Favoured Nation (MFN) tariff rates on imported rice, Malacañang said Saturday.

In a statement, the Office of the President said the MFN tariff rates for rice were reduced from 40-50% to 35% for one year under Executive Order No. 135.

Malacañang said this would diversify the market sources, augment rice supply, keep prices affordable, and reduce pressure on inflation.

“The tariff reduction took into consideration the increase in global rice prices, and the uncertainties surrounding the steady supply of rice in the country,” it said.

Meanwhile, the tariff rates for pork was modified under EO No. 134.

Under the EO, the tariff rate for pork was reduced from 30% in-quota and 40% out-quota to 5% in-quota and 15% out-quota for the first three months.

Meanwhile, the tariff rate was reduced to 10% in-quota and 20% out-quota from the 4th to 12th month.

EO No. 134 modifies the earlier EO No. 128, which mandated a 10% in-quota and 20% out-quota tariff rate for the first three months, and 15% in-quota and 25% out-quota tariff rate for the 4th to the 12th month.

"Given the continuing spread of African Swine Fever and its adverse effects, the adjusted tariff rates aim to strike a balance between the objective of making pork products available and affordable, and the concerns of all stakeholders especially the recovery of the local hog industry,” the Palace explained. — DVM, GMA News