Home |Sitemap |FAQs |Contact Us
Product Country
Increase Font Size Decrease Font Size
Menu
Market News
 
Philippines: Marcos extends modified import duties on pork, corn, rice, and coal.
Jan 04, 2023

President Ferdinand Marcos Jr. on Tuesday issued an executive order (EO) extending the temporary modification of import duty rates on various agricultural products.
 
Through EO 10, Marcos extends until Dec. 31, 2023 the tariff rates for pork (fresh, chilled, or frozen) at 15% (in-quota) and 25% (out-quota); corn at 5% (in-quota) and 15% (out-quota); and rice at 35% (in-quota and out-quota). 
 
Meanwhile, coal imports will continue to be duty-free, but will be subject to a semestral review after Dec. 31 this year.
 
According to the EO, there is a need to extend the effectivity of the reduced tariff rates on pork products, corn, rice, and coal to maintain affordable prices and guarantee a steady supply of these commodities.
 
'The current global economic situation brought about by the COVID-19 pandemic, as well as other factors affecting the country’s traditional sources of rice, corn, coal, and fresh, chilled, or frozen meat of swine, cause uncertainty in the steady supply of said commodities,' the EO read.
 
The mandate also cited supply constraints and a rise in global commodity prices due to high inflation.
 
The National Economic and Development Authority (NEDA) earlier endorsed the extension of EO 171, which former President Rodrigo Duterte signed with the intention of stabilizing the impact of inflationary pressures caused by the Ukraine-Russia crisis, boost supply sources, and lower major commodity prices.
    
cnnphilippines.com

Archive
 

Trade Leads

Directory's

APEDA Agri Exchange

News & Analysis

Contact

  • Agricultural and Processed Food Products Export Development Authority (APEDA)
    (Ministry of Commerce & Industry, Govt. of India)

  • NCUI Building 3, Siri Institutional Area, August Kranti Marg, New Delhi - 110 016
    Phone : 91-11-41486013, 20863919, 20867008, 20867007