Trending Now
CSP could be waived for first nuclear project
Century Pacific Food agrees to P1 reduction in...
New palay-buying rules ensure registered farmers benefit from...
National Gov’t gross borrowing declines nearly 26% in...
New SEC chairman expected to expedite capital market...
Six UK gin brands seek PHL distribution deals
National Fiber Backbone phases 2, 3 targeted for...
BCDA building P360-M dorm for student-athletes in Clark
Turning protection gaps into growth opportunities for insurers
Political Moralizing about the History of Slavery
  • About Us
  • Contacts
  • Email Whitelisting
  • Privacy Policy
  • Terms and Conditions
DailyProfitTips.com
  • Editor’s Pick
  • Economy
  • Investing
  • Politics
  • World News
EconomyEditor's Pick

Gradual rise in rice tariff proposed for next harvest

by May 26, 2025
May 26, 2025

THE Department of Agriculture (DA) said it will propose to economic managers a gradual increase in the rice import tariffs by the next harvest.

The DA said it wants the current 15% tariff to be retained until the end of the second quarter to keep rice prices from rising, Agriculture Secretary Francisco Tiu Laurel, Jr. told reporters.

He said the Philippine harvest ended last month.

“I will not increase for now because the harvest in the countries of origin is almost finished,” Mr. Laurel said, adding that any tariff increase should be timed for the harvest seasons of rice exporters.

The government in July 2024 slashed tariffs on rice imports to 15% from 35% until 2028 to keep prices in check. The rate is subject to review every four months.

“We (will make the) recommendation that we can consider increasing it little by little,” Mr. Laurel said. “But it’s a matter of timing.”

Farmer groups, including the Samahang Industriya ng Agrikultura (SINAG), said in a recent petition to the Tariff Commission that the declaration of the food security emergency, which triggered the release of the government’s rice reserves, and the maximum suggested retail price scheme for imported rice were “admissions of the failure” of the reduced tariff rate to bring down rice prices.

The Commission heard the petition in March.

SINAG said the tariff reduction resulted in P15 billion in foregone revenue between July and December 2024.

Mr. Laurel in March said any sudden restoration of the 35% tariff rate for imported rice could lead to market shocks.

Secretary Arsenio M. Balisacan of the Department of Economy, Planning and Development has said that the government is open to a seasonal tariff scheme for rice imports to “stabilize farmers’ incomes.”

Under the proposal of the Federation of Free Farmers, levies would be timed to not clash with the height of the harvest season. — Kyle Aristophere T. Atienza

previous post
FDA suspends new application fees
next post
We Never Got to Torture Congress

Related Posts

CSP could be waived for first nuclear project

June 29, 2025

Century Pacific Food agrees to P1 reduction in...

June 29, 2025

New palay-buying rules ensure registered farmers benefit from...

June 29, 2025

National Gov’t gross borrowing declines nearly 26% in...

June 29, 2025

New SEC chairman expected to expedite capital market...

June 29, 2025

Six UK gin brands seek PHL distribution deals

June 29, 2025

National Fiber Backbone phases 2, 3 targeted for...

June 29, 2025

BCDA building P360-M dorm for student-athletes in Clark

June 29, 2025

Turning protection gaps into growth opportunities for insurers

June 29, 2025

A Disappointing Supreme Court Decision Weakens Online First...

June 27, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
    • About Us
    • Contacts
    • Email Whitelisting
    • Privacy Policy
    • Terms and Conditions

    Copyright © 2025 DailyProfitTips.com All Rights Reserved.

    DailyProfitTips.com
    • Editor’s Pick
    • Economy
    • Investing
    • Politics
    • World News