PH rice imports won't reach 4.7M MT despite tariff cut —DA

Rice Importation News

PH rice imports won't reach 4.7M MT despite tariff cut —DA
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The Philippines will not import as much rice this year compared to the US Department of Agriculture's projection, despite the tariff cut.“I don’t think the reduction of tariffs will increase importation… it’s basically demand-driven,” Agriculture Secretary Francisco Tiu Laurel Jr. said during the post-State of the Nation Address forum in Pasay City on Tuesday.“I really don’t think we will reach 4.

Data from the Bureau of Plant Industry showed that as of the first seven months of 2024, the Philippines has so far imported 2.37 million MT of rice.President Ferdinand Marcos Jr.'s Executive Order 62, which reduced the import tariff rates on rice and other agricultural products, has been questioned before the Supreme Court.

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