In a press briefing on Tuesday, NEDA chief Arsenio Balisacan said that the agency has decided to lower the rice tariffs from the previous 35% in order to curb ease upward pressures in domestic rice prices.
MANILA, Philippines — The National Economic and Development Authority announced that its board has agreed to reduce rice tariffs to 15% for in-quota and out-quota rates until 2028.
The tariff reduction on rice comes at a time as global rice prices remain high due to the El Niño phenomenon and growing demand from the increasing population, according to Balisacan. The NEDA board also retained the tariff cover on certain agricultural products which include sugar, vegetables such as onions, shallots, garlic, broccoli, carrots, cabbage, lettuce, sweet potatoes, cassava, coffee substitutes, complete feeds and feed preparations.
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National Economic And Development Authority Neda Prices Rice Rice Prices Tariffs
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