NEDA Secretary Arsenio Balisacan first disclosed about this plan in early June, saying the move 'aims to lower the price of rice further and make it more affordable'
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MANILA, Philippines – The Philippine government has lowered the tariffs on imported rice from 35% to 15%. That document modifies the nomenclature and rates of import duty on various products, including Filipinos’ staple food. “Reducing rice tariffs is expected to bring down rice prices for consumers while supporting domestic production through tariff cover and increased budgetary support to improve agricultural productivity, especially as global rice prices remain elevated,” the socioeconomic planning chief said on June 4.
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